North West sees a big drop in the price of car insurance

Cost of car insurance drops in the North West

Biggest drop in insurances cost in the UK Photo: PA

Car insurance premiums have fallen on average of around £100. Regionally, the north west of England saw the biggest dip - of 20.9% according from figures from the AA.

For the first three months of 2014, the average comprehensive motor insurance "shoparound" figure, involving quotes from a number of markets, had plunged to £531. This was 5.6% down on the figure for the last three months of 2013 and 16.6% down on the January-March 2013 figure.

Young drivers, who have to pay the most for comprehensive insurance, enjoyed the biggest dips in premiums in the first part of this year, with the cost for 17 to 22-year-olds coming down 20.5% compared with the first three months of last year and 23 to 29-year-olds getting a 19.9% fall.

However, the AA warned that this could be the end of the good news for motorists.

"Legal reforms introduced by the Justice Ministry to curb organised attempts at whiplash injury fraud coupled with better fraud detection by insurers have also certainly helped put downward pressure on premiums.

"But despite this there is no evidence that this is delivering any significant reduction in the number and value of personal injury claims."

"I do expect premiums to start rising again this year unless the fraud issue can be dealt with. If not, it's likely to be young drivers, those with a poor claims history or those in localities where there are frequent claims who will find it most difficult to obtain competitive cover." - AA Insurance director Simon Douglas





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Car insurance premiums fall sharply by more than £100

Car insurance premiums fall sharply by more than £100

The AA has said that car insurance premiums have fallen sharply, with the average price dipping more than £100. For the first three months of 2014, the average comprehensive motor insurance "shoparound" figure, involving quotes from a number of markets, had plunged to £531.

Car insurance premiums have fallen sharply. Credit: Rui Vieira/PA Wire/Press Association Images

This was 5.6% down on the figure for the last three months of 2013 and 16.6% down on the January-March 2013 figure.

The January-March 2014 figure for third party, fire and theft was £725 - an 8.4% drop on the last three months of last year and 18.5% down on the figure for the first three months of 2013. More top news









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Admiral Insurance says: 'You're too old to claim'

Insurer Admiral was happy to take Gordon Bernard's money when it automatically renewed his £73 annual travel insurance policy in January. But a few weeks later, when the Kent pensioner looked into making a claim after a Caribbean holiday, Admiral said no - because he was too old.

Despite deducting the money from his account for another year, Admiral said he was now older than its 64 maximum age limit. He says the company has since blamed him for the lack of cover, and failed to return his premium.

At the start of this year, Bernard, who lives with his wife Elizabeth near Maidstone, Kent, received an email about his policy. He was unaware he had even signed up for automatic renewal, but being an astute Guardian Money reader, he decided to quickly check the policy still offered good value. As it did, he was happy to carry on with it.

Fast forward to March, when the pair headed off on holiday to the Turks and Caicos islands, near the Bahamas. While there, Gordon stumbled on a pavement, leaving him with a swollen and sore knee. Fearing it might need further treatment, he dug out his policy. He was told by Admiral it would be fine to seek a medical consultation, as the policy would cover this diagnosis.

In the end a claim was not required, but when he returned home he emailed Admiral, and was astonished to be told he was not covered as he was 65.

"It's an astounding way for a company to behave - one that could have had very serious consequences had we had a significant accident. It seems to me it's mis-selling - not least as Admiral had my date of birth a year ago. I have sent two letters of complaint to Admiral but it hasn't even replied, let alone repaid the premium," he says.

Admiral said travel insurance is underwritten and administered by Rock Insurance. It has agreed that Bernard was mis-sold his policy. "We are very sorry, it is something both Rock and we take seriously and it will be investigated further to prevent it from happening again. Rock has contacted him to acknowledge his complaint and sent a cheque to refund his premium along with 8% interest."

Obtaining affordable insurance when you are an older traveller can be a real headache. Many insurers only offer cover up to a certain age - often 65 - particularly with annual multi-trip policies. And even if you can get cover, it can be alarmingly expensive once you hit 75 or 80.

Insurers say the bottom line is that older people are more likely to fall ill, and their medical bills will typically be a lot higher. The Association of British Insurers has published research showing over-65s are three times more likely to make a claim than those aged 35.

Guardian Money this week found quite a number of companies prepared to insure our fictional 70- and 80-year-olds. There are some surprisingly high maximum age limits - 115 (that's not a misprint) for single-trip cover from Alpha Travel Insurance when bought via a price comparison website - while providers who state they have no upper age limit include Age UK, Saga and InsureandGo. Which? says the price hikes and variation in rates make it vital to shop around, and this is one of the areas where perhaps a comparison website is the way to go, supplemented by calling some smaller specialist insurers.

First, check your bank account. Some older people may find they are covered by a packaged current account that includes insurance. For example, Nationwide's £10-a-month FlexPlus includes worldwide insurance where those who are 75-plus are covered but have to pay an extra £50 annual premium. Similarly, NatWest has a £50 annual premium for those aged 70-plus holding its £10-a-month Select Silver and £16-a-month Select Platinum accounts, which come with European and worldwide cover. Lloyds Bank's £17-a-month Platinum account comes with worldwide insurance up to age 80, as do the Premier and Gold accounts - although they are closed to new customers.

We looked on Moneysupermarket.com to see how much annual and single-trip cover would cost in different scenarios.

* A 70-year-old looking for single-trip for a fortnight in Spain They could choose from 40 results, with TopDog Insurance and Alpha coming out cheapest at £13.52 (but with a hefty £300 excess) and £14.65 (£150 excess) respectively. If they wanted an annual European policy, there were 31 results, with TopDog, its sister company, Flexicover, and Alpha quoting £43.06, £48.84 and £49.19 respectively.

* What if we up the age to 80? Only three companies were prepared to quote on a single-trip basis, starting at £31.43 from Alpha (£150 excess), and no annual policies. The other two firms were Explorer Travel Insurance and Planet Earth Travel Insurance Services.

* A 70-year-old travelling to the US There were 35 single-trip results, with Alpha coming out cheapest at £32.91 (£150 excess) and £34.85 (£100 excess). Cheapest annual worldwide policies, that include the US, were TopDog (£63.84 with a £300 excess), Alpha (£71.72 with a £150 excess) and Flexicover (£73.50 with a £100 excess).

* What about at age 80? Again, there were no annual policies and only those same three companies were prepared to quote on a single-trip basis, with Alpha the cheapest at £66.56 (£150 excess). Be careful when it comes to the very cheapest policies - many will have a limit on baggage claims of perhaps £500 or £750. And, as you can see, you need to look closely at the quoted excesses. Generally, the higher the excess, the lower the premium. Also, it's crucial that travellers declare any information, such as a pre-existing illness, that an insurer might use to calculate your premium. Companies that are said to score well on offering cover for pre-existing conditions include EHICPlus. Remember, there are companies that are not on comparison sites. Which? says those offering decent rates for over-80s include Holidaysafe, Bengo, Explorer, Let's Go Insure and Policy Direct for single-trip policies, and InsureandGo, Travel Insurance Medical,Saga, Flexicover and Age UK for annual policies.

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Best car insurance companies 2014

Reader survey results reveal the best car insurance companies for you in 2014



For more breaking car news and reviews, subscribe to Auto Express - available as a weekly magazine and on your iPad. We'll give you 6 issues for £1 and a free gift!

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Car insurance premiums fall sharply

The average comprehensive insurance figure, involving quotes from a number of markets, has fallen to £531 Car insurance premiums have fallen sharply, with the average price dipping more than £100, according to the AA.

For the first three months of 2014, the average comprehensive motor insurance "shoparound" figure, involving quotes from a number of markets, had plunged to £531.

This was 5.6% down on the figure for the last three months of 2013 and 16.6% down on the January-March 2013 figure.

The January-March 2014 figure for third party, fire and theft was £725 - an 8.4% drop on the last three months of last year and 18.5% down on the figure for the first three months of 2013.

Young drivers, who have to pay the most for comprehensive insurance, enjoyed the biggest dips in premiums in the first part of this year, with the cost for 17 to 22-year-olds coming down 20.5% compared with the first three months of last year and 23 to 29-year-olds getting a 19.9% fall.

Regionally, the north west of England saw the biggest dip - of 20.9% in premiums at the beginning of this year, while Anglia had the smallest decrease - 13.3%.

However, the AA warned that this could be the end of the good news for motorists.

AA Insurance director Simon Douglas said: "Legal reforms introduced by the Justice Ministry to curb organised attempts at whiplash injury fraud coupled with better fraud detection by insurers have also certainly helped put downward pressure on premiums.

"But despite this there is no evidence that this is delivering any significant reduction in the number and value of personal injury claims."

He went on: "I do expect premiums to start rising again this year unless the fraud issue can be dealt with. If not, it's likely to be young drivers, those with a poor claims history or those in localities where there are frequent claims who will find it most difficult to obtain competitive cover."

Justice Secretary Chris Grayling said: "We are turning the tide on the compensation culture and doing our bit to help drivers with the cost of running a car.

"We have made major law changes which have been a significant factor in these record falls in car insurance premiums. But we want to do more, and we are now going after the fraudsters who force up the costs for everyone else."

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European insurance firms lagging in digital

Insurance companies in Europe are under threat from companies outside their sector as they fail to keep up with digital developments.

According to Forrester Research's report Trends 2014: European Digital Insurance, companies outside Europe are ahead of companies in the continent. It also said companies in the manufacturing, utility and telco spaces, and start-ups, could take business from traditional insurers.



To catch up, insurance companies should open digital labs, run hackathons, tap into internal and external talent, and partner digital firms, said the report.

"The digital race is on. Europe's digital insurance execs should respond by leading the battle against digital inertia," said Forrester analyst Oliwia Berdak. "Using open innovation is part of a journey to develop products and services that will fundamentally change the nature of insurance, moving away from a model based on compensation to one focused on prevention."

Research from Forrester found: direct insurance channels are gaining momentum with a quarter of online European adults purchase through insurance comparison websites; online insurance sales are catching up with face-to-face sales; and digital budgets are rising across industries.

"Insurance companies must not fall behind," said Forrester.

The Forrester report said entrants are using digital technologies to compete for the insurance business of younger, technology-savvy customers. "Across Europe, usage-based insurance (UBI) from companies such as the UK's Drive like a girl and insurethebox offers some drivers lower premiums in exchange for data on when and how they drive.

"In the Netherlands, Aegon subsidiary Kroodle claims to be the first insurer in the world that allows you to register via Facebook without the need for a policy number. Startups friendsurance.com in Germany and jFloat in the UK are trying to harness the power of social connectivity to grow peer-to peer insurance."

Earlier this year, research from Accenture, of 6,000 consumers surveyed in 11 countries, revealed that almost a quarter of consumers would consider large internet companies, such as Google and Amazon, as possible insurance providers.

Accenture's research showed that 67% of 6,000 consumers surveyed in 11 countries would consider buying insurance from companies other than insurers. Some 23% cited online service providers as options.

A total of 43% said they would consider banks in their buying decision. Accenture said there could billions of pounds' worth of policies up for grabs globally, as 40% of consumers look to change providers. Email Alerts Read More

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Best car insurance companies 2014

Reader survey results reveal the best car insurance companies for you in 2014



For more breaking car news and reviews, subscribe to Auto Express - available as a weekly magazine and on your iPad. We'll give you 6 issues for £1 and a free gift!

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What Direct Line Insurance Group plc's Streamlining Drive Means For Earnings ...

Today I am looking at why I believe Direct Line Insurance Group's (LSE: DLG) restructuring drive should deliver solid returns in coming years. Strategic investments ready to pay off

Direct Line is undergoing a vast transformation programme in order to cut costs and rid itself of non-core and underperforming assets. These streamlining plans are undoubtedly delivering the goods, the firm having seen operating profit advance 14% during 2013 to £526.5m.

The company announced in October that it had shorn off its Direct Line Life Insurance division to Chesnara for £39.3m, and was

followed by the sale of its TRACKER stolen vehicle recovery unit to Lysanda in February. I expect further disposals to occur as it throws off the shadow of previous owner Royal Bank of Scotland.

However, the company is also splashing the cash in areas in which it sees high growth potential. In January Direct Line announced that it had received the necessary authorisation from the Solicitors Regulation Authority to launch DLG Legal Services in conjunction with Parabis Law.

The new division will provide a variety of its legal services to existing home and motor customers who have selected additional legal cover, as well as non-customers for a one-off fee. The legal services arena is considered a potentially-explosive sub-sector by the country's biggest insurers, with Admiral establishing two joint ventures in this area last year.

As well, Direct Line is also investing heavily in other areas to cotton onto changing consumer trends. The firm has introduced smartphone and tablet PC-specialised websites in order to latch onto galloping trend of mobile commerce - or 'm-commerce' - while it is also ramping up its product range in the increasingly-popular telematics field.

The company is also investing heavily in behind-the-scenes technology, and recent initiatives include the roll-out of a new full-cycle eTrading platform - known as TheHub - for commercial brokers. Earnings expected to rebound next year

But in the near term, City analysts expect Direct Line to experience significant earnings turbulence. The company is anticipated to experience a 13% earnings dip in 2013, although a solid 19% bounceback is anticipated in the following 12-month period.

These projections leave the insurer dealing on a P/E rating of 10.8 for this year, and which falls within bargain territory below 10 for the following 12-month period at 9. These readings also trample a forward average of 12.5 for the complete non-life insurance sector.

In my opinion Direct Line is poised to deliver solid shareholder returns in coming years. Driven by its strong stable of market-leading brands such as Privilege and Churchill, and solid footprint across a range of insurance markets, I believe that the company is on track to punch solid long-term growth. Generate gargantuan growth with the Fool

But regardless of whether you fancy plating your investment cash in Direct Line Insurance Group, I strongly recommend you check out this BRAND NEW and EXCLUSIVE report which reveals half a dozen mega growth stocks as selected by our in-house investment guru Maynard Paton.

This special wealth report -- "The Motley Fool's Top Growth Stock For 2014" -- picks out a host of stock market stars on both sides of the Atlantic set to pay off handsomely. Click here to download your copy; it's 100% free and comes with no further obligation. Royston does not own shares in Direct Line Insurance Group.

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Car Insurance Quotes Tool Added to New Insurer Portal for Consumers Online

Los Angeles, CA (PRWEB) April 23, 2014

Locating auto coverage policies that agencies underwrite at discount prices in North America is now possible using the Internet resources at the Bright Sky Insurance website. The car insurance quotes tool now active is positioned to instantly quote car owner policies at http://ift.tt/1ibHM5Y.

The agency price calculations that are delivered through the automated set of tools now offered to owners of vehicles are accurate for the current year in the U.S. This method of retrieving prices for any type of coverage plan are in contrast to outdated phone quotation methods requiring direct contact with agents.

"The Internet quotation system that our company provides is one of the useful tools that have been programmed for easy access this year," said a Bright Sky Insurance source.

To go along with the car insurer data now available, new providers offering new forms of coverage that are becoming popular are also included for review. Plans such as non owner, agreed value, modified and SR22 are available through some of the agencies now existing in the car insurer quote tool.

"We've increased number of agencies that are participating in our coverage quotation tool this year to set the pace for research through to 2015 and beyond," the source said.

The Bright Sky Insurance company is also exploring different additions to its third party quotes tools now available from the homepage. Aside from vehicle coverage plans, consumers can access the life insurance or homeowners insurance finder tools at http://ift.tt/1jVSu5W.

About BrightSkyInsurance.com

The BrightSkyInsurance.com company has opened its public portal for national insurance agency research this year. The Internet resources that this company supplies to the public are helping more drivers to compare prices for coverage options in the automotive and general coverage industry in the U.S. The BrightSkyInsurance.com company is a fully staffed agency offering independent price data and other exploration options to the public. New partners now regularly join the open database now offered to American consumers to access for information on the company homepage.

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Ford F

by on April 23, 2014 | posted in Vehicle Insurance



How much does it actually cost to insure your vehicle? The true cost varies widely across U.S. cities, and a major reason is that car insurance costs differ from city to city. For example, it costs nearly eight times more to insure a car in Detroit than it does in Boise.

To make car insurance costs more understandable, we created the Ford F-150 Car Insurance Index, illustrating the insurance burden using America's top-selling vehicle. The index proxies the affordability of car ownership by calculating the cost of insurance for an F-150 as a percentage of the median income in each city.

When we crunched the numbers, we found some surprising facts about F-150s in America:

Six of the 10 most affordable places to own an F-150 were in California. This is due to a combination of high median incomes and low average car insurance rates. Interestingly, California is one of the states where the F-150 is not the best-selling vehicle. Kansas City, Mo., where the F-150 is assembled, is the 24th least affordable place to own an F-150. On average, it costs $1,165.09 to insure an F-150 in Kansas City, nearly twice the amount it costs to insure the truck in Durham, N.C. The average annual car insurance premium for an F-150 is $1,003.98. The 30 Most Affordable Places to Own a Ford F-150 The 30 Least Affordable Places to Own a Ford F-150



Embed this on your own site: Methodology

To determine the average insurance premium on a Ford F-150, NerdWallet retrieved quotes for four different driver profiles in the 150 most populous U.S. cities: 27-year-old single men and women, and 40-year-old married men and women. For each driver profile, we chose each city's two cheapest car insurance quotes to mimic consumer behavior and to determine our overall average. All quotes assumed the city's minimum insurance requirements. Median income data came from the U.S. Census Bureau.

Image: Joe Ross / Flickr source

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Rise in fraudulent insurance claims

A major insurer has reported a 19% year-on-year increase in fraudulent claims, which it says is being driven by organised gangs and a "lack of effective deterrents".

An Aviva spokesman said fraud adds around £50 to the cost of everyone's insurance premium

Aviva said it uncovered more than £110 million-worth of motor insurance fraud last year, marking a 19% increase compared with 2012, with the bulk of bogus claims being due to motor insurance fraud.

Motor injury fraud makes up over half (54%) of Aviva's total detected claims fraud costs and the insurer said that much of this is down to organised gangs making "crash for cash claims", where criminals deliberately stage an accident, sometimes by slamming on their brakes so that an unsuspecting motorist drives into the back of them.

Aviva said it is currently investigating 5,500 suspicious injury claims linked to "known" fraud rings, representing an increase of 20% since 2012.

Tom Gardiner, head of fraud at Aviva, said according to industry estimates, fraud adds around £50 to the cost of everyone's insurance premium.

He said: "A combination of factors including the economic climate, social attitudes toward insurance fraud as a 'victimless crime', and a lack of effective deterrents are increasing the frequency of insurance fraud. The good news is that we are constantly improving our ability to prevent and detect fraud."

Mr Gardiner continued: "We are witnessing a trend toward third party, injury and organised fraud. For example, in 2013, we identified fraud in one in nine third party injury claims."

Aviva highlighted what it felt was a "disappointing outcome" from one recent case it had been involved in, which centred on a bogus minibus accident in Newcastle in 2009. The minibus had been supposedly carrying a group of people to a stag event, who alleged they sustained whiplash injuries as a result of the minibus being in a collision with another car.

But Aviva said that instead of the reported collision, the minibus had been deliberately damaged elsewhere and then taken to the scene of the incident, where debris was scattered and the accident "staged". Aviva said its investigations linked the driver and passenger of the other vehicle to the occupants of the minibus through social media websites.

As well as presenting personal injury claims worth more than a total of £100,000, six ambulances also attended the scene and the party were treated at the local hospital. The insurer said 13 people later received suspended sentences and community service and "modest" fines of several hundred pounds as a result of the incident.

Aviva said that last year, it settled more than 910,000 claims worth £2.65 billion and fraud was identified on less than 1.9% of claims it received.

Its own research among over 2,000 consumers found there is "considerable concern" about the scale of insurance fraud, and 64% of people want insurers to do more to tackle it.

Despite this, increasing numbers of people would turn a "blind eye" to fraud . Two thirds (66%) of people surveyed said they would not tell the police if someone they knew had committed insurance fraud, marking a 53% increase compared to a similar survey in 2008.

Aviva said the findings also suggest that people underestimate the impact of fraud, as just one in 10 people think they are affected by it, whereas in reality, everyone feels the impact through higher premiums.

The research also found that 23% of people knew someone who had exaggerated a genuine claim and 17% knew someone who had faked a whiplash injury to obtain compensation. Overall, 92% of people surveyed believe dishonesty is a problem in today's society, up from 75% in 2008.

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'Cash for crash' scams fuel sharp rise in insurance fraud

A surge in so-called "cash for crash" scams and fraudulent whiplash injury claims is being blamed for a sharp rise in insurance fraud detected by Britain's biggest insurer.

Aviva said it discovered more than £110m worth of fraud in 2013 - up 19% on the previous year - and that it was currently uncovering 45 fraudulent claims a day.

However, while policyholders submitting inflated or invented claims for supposedly stolen or damaged valuables is still an issue, Aviva said that increasingly, insurance fraud was carried out by third parties making claims against its customers - for example, for spurious injuries as a result of an accident - and also by organised gangs.

A combination of factors including the challenging economic climate, the fact that many people see it as a victimless crime, and a lack of effective deterrents are all helping to drive up the number of cases of insurance fraud, Aviva warned.

The most common type is motor injury fraud, which accounts for 54% of Aviva's total detected claims fraud costs. More than half of these involve cash for crash scams, where people submit false claims for damage and personal injury in relation to car accidents that either never happened or were staged.

Tom Gardiner, head of fraud at the insurer, said: "We are witnessing a trend toward third party injury and organised fraud. For example, in 2013 we identified fraud in one in nine third party injury claims."

Aviva is currently investigating more than 5,000 suspicious injury claims linked to known fraud rings - an increase of 20% since 2012. The Insurance Fraud Bureau estimates that one in seven personal injury claims are linked to suspected cash for crash claims, with the total annual cost to insurers for these scams estimated at £392m.

The company's largest successful fraud prosecution involved scores of organised and bogus whiplash claims with a potential value of more than £5m, where sentences of between four and seven years were handed down. But in other cases, those convicted have received suspended sentences, community service and fines of a few hundred pounds, which Aviva said "serves as little deterrent for the future".

One problem is that while the vast majority of people who are asked say insurance fraud is unacceptable, many turn a blind eye to it, said a company spokesman. A survey showed that two-thirds of people would not report it to the police if someone they knew committed insurance fraud, a 53% increase compared to a 2008 survey by Aviva.

The public also appears to underestimate the impact of fraud; just 1 in 10 think they will be affected by it, whereas in reality everyone is impacted via higher premiums. More road accidents are caused by fraudsters seeking injury compensation, Gardiner added.

In July 2013, a report by MPs said insurers must put "their house in order" to reduce fraudulent whiplash injury claims, which have added £90 to every motor policy.

Ministers should consider reducing the limitation period for road accident insurance claims, and require whiplash claimants to produce more medical evidence, said a House of Commons transport committee report.

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Bizarre insurance claim as Bath pensioner discovers trapped badger bashed a ...

A 71-year-old woman from Bath had to claim on her insurance after she locked a badger in her shed which then managed to bash a hole in the wall to escape.

The case has been included on a list of Britain's most bizarre home insurance claims, as drawn up by specialist insurance provider RIAS.

It is being used to highlight that even the most unlikely suspects can cause hundreds of pounds worth of damage.

RIAS managing director Peter Corfield: "While we go out of our way to ensure that our homes and gardens are safe and secure, sometimes it's the most unlikely events that can end up causing real damage.

"Not all claims are straightforward and sometimes we do see some bizarre scenarios. Babies and animals are often the culprits."

Along with the incident in Bath, there was also:

* After seeing a dog on the television screen, a dog in Galashiels decided to jump into the screen after it.

* A small child spilt a glass of coke on his grandad's laptop. Drying it with a hairdryer melted the keys, causing £239 worth of damage.

* A snail ate £78 worth of carpet in the home of a 73-year-old man from Preston.

* Gusty winds blew a 62-year-old's glasses off his face, which were then immediately run over by a car, resulting in £469 worth of damage

* A trapped squirrel in the garage of an 86-year-old woman from Exeter managed to crack a window and escape.

* A grandfather in Guildford held his baby grandson up to show him off over Skype. The baby then threw up on the laptop causing £437 worth of damage.

* A pigeon fell down a chimney and flew into a house, damaging the carpet, ornaments and sofa to the tune of over £8,000.

* A seven-month-old puppy in Cardiff stole a one litre bottle of oil from the kitchen, dragged it to the living room and chewed it on the sofa, causing £953 worth of damage.

* A deer fell into the swimming pool of a 74-year-old man from Guildford, damaging the cover.

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Zurich Insurance Unveils 7 Deadly Cyber Risks

Zurich Insurance Group has revealed seven types of cyber-attacks and has warned companies that they need to improve their risk responses to avoid a global shock similar to the 2008 financial crisis.

In a report, entitled Zurich Cyber Risk Report, research shows that risk management professionals still lag behind in understanding how serious certain forms of cyber warfare can impact the overall company and the reliance on information technology has also created a complex web of interconnected risks.

"The internet is the most complex system humanity has ever devised. Although it has been incredibly resilient for the past few decades, the risk is that the complexity which has made cyberspace relatively risk-free can - and likely will - backfire," said Axel Lehmann, group chief risk officer and regional Chairman Europe at Zurich Insurance Group.

"Organizations are unknowingly exposed to risks outside their organization, having outsourced, interconnected or exposed themselves to an increasingly complex and unknowable web of networks.

"Few people truly understand their own computers or the internet, or the cloud to which they connect, just as few truly understood the financial system as a whole or the parts to which they are most directly exposed."

The report, which was created in collaboration with the international think tank Atlantic Council, said the following areas present the most risk for companies:



Furthermore, Zurich says that data breaches are today's top concern and a serious risk as 2013 was the worst year so far, with 740 million data files potentially viewed or stolen worldwide.

It recommends the following key steps for businesses to start safeguarding themselves:



The report follows closely after another new study, which showed that 60% of IT staff do not tell their bosses about security risks until it has become a matter of urgency.

More than half of IT staff said they will only inform managers when the threat is "serious", and will also try to filter out negative results, according to a report by US cyber expert Dr Larry Ponemon, who surveyed almost 600 individuals working in various sectors of IT.

Meanwhile, some countries are now taken more action over cyber security risk, such as the UK.

IBTimes UK reported on 22 April that around 20 British banks and financial firms will undergo a major round of cyber warfare simulations in a bid to test their resilience against hacking attacks.

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Car insurance small print 'longer than a novel'

Small print on some car insurance policies has a higher word count than George Orwell's novel Animal Farm, a consumer website has found.

The motor insurance policy documents produced by Endsleigh, Sheila's Wheels, Esure and M&S Bank total more than 30,000 words, Fairer Finance found.

In contrast, insurer LV had terms and conditions of fewer than 7,000 words.

An insurance trade body said it was working with regulators to improve paperwork for customers.

The highest word count was Endsleigh, with car insurance policy documents containing 37,674 words, Fairer Finance said.

The website's founder, James Daley, said that a survey of 2,000 consumers had found that fewer than a third of those asked said they read terms and conditions. HSBC account terms and conditions: First paragraph

Your agreement with us consists of these General Terms and Conditions ("General Terms") and any Additional Conditions (the General Terms and the Additional Conditions are together the ("Terms")) that apply to any product/service that you have and which are described in the Terms.

"Even those who do are struggling to understand them, [so] what exactly is the point of these documents?" he said.

"Of course, it is important that customers know what is covered and what isn't in their insurance policy, but if one company can do the job in less than 7,000 words, there is no excuse for insurers who are producing documents that are five times as long."

James King, head of conduct regulation for the Association of British Insurers (ABI), said: "Insurers are continuing to look at ways to improve their communications with customers and are working with the regulator to further improve the quality of disclosure documents."

'Legal jargon'

Mr Daley added that it was not only insurers which produced lengthy terms and conditions.

Small print for an HSBC bank account totalled more than 34,000 words. They start: "Your agreement with us consists of these General Terms and Conditions ("General Terms") and any Additional Conditions (the General Terms and the Additional Conditions are together the ("Terms")) that apply to any product/service that you have and which are described in the Terms."

Terms and conditions on accounts from Norwich and Peterborough Building Society, Metro Bank, NatWest and Halifax all had word counts of more than 25,000, the research found.

"As a first step, we want all banks and insurers to take the legalese and jargon out of their small print, and to lay out the documents in a way that is accessible and doesn't turn off customers before they have started," he said.

"But in the long run, the industry needs to have a rethink about what information it needs to get across to its customers, and what is the best way to do that. Too often, compliance managers and lawyers talk banks and insurers into throwing the kitchen sink into these documents, which reduces the chance of the small print ever being read."

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School leavers given chance to enter world of insurance thanks to ...

School leavers given chance to enter world of insurance thanks to apprenticeship scheme

11:00am Tuesday 22nd April 2014 in News By Darren Slade



TEAMWORK: Susan Reeves, standing, human resources director of Alan and Thomas Insurance Group, with apprentices Autum Chamberlain and Nick Magee

AN INSURANCE specialist has played a key part in an industry-wide campaign to find bright recruits through a new apprenticeship scheme.

The idea was originally devised by Susan Reeves, human resources director for Poole-based Alan and Thomas Insurance Group.

It was then adopted and launched by Brokerbility, a network of 37 UK brokers of which Alan and Thomas represents the South and South West.

The 18-month scheme will give school leavers an alternative to university and recruitment and will begin immediately.

It will lead to a recognised qualification from the Chartered Insurance Institute and will offer apprentices mentoring and coaching, as well as networking opportunities and hands-on work experience.

Susan Reeves said: "I'm delighted that the scheme has been met with an enthusiastic response from our fellow Brokerbility brokers and they have committed to employing at least 20 apprentices within the first year. "It has taken a lot of hard work to get to this stage but I'm pleased to have been able to work with Brokerbility to get the idea off the ground and launched across the industry.

"There is a real shortage of talented individuals coming into our industry so we have created this opportunity for school leavers who might not have considered a career in insurance before. Not only will they acquire a recognised qualification at the end of the apprenticeship but they will have gained some valuable work experience in both an office and broking environment. This experience will put them one step ahead of university graduates who may not necessarily have been exposed to practical work experience."

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Should I get insurance when I rent a car?

Yesterday I paid $19.99 plus tax for insurance when I rented a car as I have no personal car insurance. Crazy me, I now believe. I hold a TD Visa Infinite First Class card - not a premium card. Any thoughts? -- B., Toronto

That 20 bucks a day is probably cheaper than replacing a totalled Chevy Spark. But before you get the collision damage waiver, check to see what's already covered by your credit card and your car insurance.





A BMW Vision Future Luxury concept car has its world premiere at Auto China 2014 in Beijing. BMW claims it is getting closer to deciding whether it will build a new factory. REUTERS Gallery



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The Bricklin's body was made from chopper-gun fiberglass at a factory in Minto, N.B. Spotted

"Do you homework, find out where you have the most coverage," says Anne Marie Thomas, business development manager at Insurancehotline.com. "Your credit card might cover damage to the automobile but it will not cover liability."

Your credit card might automatically give you coverage, as long as you used it to pay for the car rental. If your card doesn't, they might let you buy additional coverage for an annual fee. We checked with TD: your card will protect you against "loss arising from damage to the rental car of most rentals in North America and many foreign countries."

Look at the fine print in your credit card agreement, Thomas says.

"There might be a limit on what they'll cover," she says. "If it's $50,000, that may not cover the car you rented."

And, certain types of rental vehicles, such as cargo vans, may not be covered. If you already have car insurance

If you do have car insurance, check that it covers damage to a rental vehicle. And, again, see how much damage it covers.

"It's optional so you have to purchase it from your insurance company," Thomas says.

In Ontario, you have to buy an OPCF 27 waiver, which covers damage to a car you don't own. It's only valid in Canada and the U.S., so if you're driving somewhere else, you'll need to buy extra insurance. Third party liability

Third-party liability covers damage to others and their property.

Check with the rental company to see what they offer. Thomas says it's typically at least $1-million.

"The liability usually stays with the vehicle," she says. _____________________ Distracted driving cop out?

Why do police get to talk on the phone and use laptops while they're driving? It's not fair to the rest of us. -- Michael

Well, the rest of us don't to carry guns or fight crime either, says Drop it and Drive's Karen Bowman.

"This question comes up all the time," Bowman says, "Police need to do their job and that means they have to make calls and use their laptops."

If police had to pull over to make calls, it could mean they wouldn't make it to an emergency call in time.

"If I've called 911 because somebody's in my house, I don't want police to take an extra two minutes to get there," Bowman says.

That said, everybody has to focus on the road when behind the wheel, says OPP spokesman Pierre Chamberland.

"That includes police officers," Chamberland says. "It includes me in my normal life - we all have to get better at this." If you have questions about driving or car maintenance, please contact our experts at globedrive@globeandmail.com.

Follow us on Twitter @Globe_Drive. Sign up for our weekly newsletter.

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Motorist knew insurance shown to police had been cancelled

Published: 22 Apr 2014 09:00

A 47-year-old factory worker has admitted fraudulently using a certificate of car insurance by showing it to the police, knowing it had been cancelled.



James West, of Lurganboy Park, Newtownbutler, also admitted failing to return the certificate to the Liberty Insurance company and driving without insurance.

He was fined £400 and given eight penalty points.

District Judge Nigel Broderick said that "given the current economic climate" he would not interfere with West's employment by disqualifying him from driving.

However, he warned him that if he appears in court again for driving without insurance "job or no job, you will lose your licence".

A prosecutor told Fermanagh Court that at approximately 4.40pm on Friday, October 4, last year, police saw West driving a Citroen C4 on the Dublin Road in Enniskillen. They checked on their computer and the car was not insured. They stopped and spoke to West who produced a certificate of insurance valid for that date. However, when the police contacted Liberty Insurance the company said the policy had been cancelled due to a failed payment. It said it had written to West three months earlier, on June 21, telling him the insurance had been cancelled, and again in July, requesting him to return the certificate.

Defence barrister Steffan Rafferty said West "simply overlooked the letters that came to the house". He accepted he should have checked and was foolish in not doing so. He had become unemployed and "fallen on hard times". The insurance payments fell into arrears. He paid the arrears and the policy was cancelled and a new policy issued. However, the payments on that policy also fell into arrears. At the time he was stopped he believed he was still insured.

The District Judge asked: "Why did he think he was insured when he hadn't paid the premium?"

Mr. Rafferty said West thought he had a month's grace.

"When he proffered the certificate of insurance he believed it was valid but in hindsight accepts he wasn't insured," the barrister stated.

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Nick de Bois MP: Labour's floated National Insurance hike wouldn't solve the ...

So Labour wants to solve the NHS challenges for the future by raising £30 billion from a one per cent National Insurance increase. Simple, then: that's the NHS sorted, and we can all carry on as normal.

Except we can't.

Labour's answer to almost all of today's problems is just tax and borrow to spend more, and without doubt their answer to the NHS challenges of the future is always the same, - namely, spend more. In Tony Blair's first term he did just that, much to the then horror of Gordon "Prudence" Brown before the then Chancellor embarked on the UK's biggest spending spree ever, which left the country broke by May 2010.

Specifically, Blair promised to inject at least £12bn of extra money into the NHS over six years, which at the time was his reaction to the then Government's worst period in office, it having experienced a winter flu crisis. His 1997 election pledge of "only 24hrs to save the NHS" was looking so tattered that he reached for the national wallet in panic - and put one per cent on National Insurance

Sound familiar?

It should do, since this weekend's idea is essentially setting out more spending without any comprehensive plan for reforming healthcare in this country. In other words, it would if implemented repeat the mistake of Blair who, despite having a reforming Health Secretary in the shape of Alan Millburn, failed to do little more than tinker and spend more.

Worse, the recommendations of Derek Wanless, who conducted a thorough review at the request of Blair setting out what challenges (and solutions) would face the NHS, were essentially over looked. The result was a management-heavy, bureaucratically bloated and fundamentally flawed system that, despite the best efforts of so many in the NHS, delivered such ghastly failures as Mid Stafford.

To be fair, I have made no secret of the fact that the Lansley reforms were stifled by the Lib Dems, a reactionary BMA and other public service unions. Compounded by the fact that the Government failed to make the case for whole scale reform, we have a partially reformed NHS, but not one that is delivering a long term solution for a sustainable health service free at the point of delivery and funded from general taxation.

Earlier this year, I set out why a real consensus needs to be achieved with medical professionals and political parties levelling with the public about the future sustainability of the NHS. There is a desperate need for real change in how we approach health care in England that needs to see beyond short-term temporary funding solutions that kick the matter into the not-so-long grass between one winter crises and the next. Paul Goodman made the point bluntly in his excellent piece for the Times (£) last week.

So what's behind Labour's idea of whacking up National Insurance to pump more money into the NHS? Not the future medium and long term sustainability of the NHS, clearly - and, most certainly, no thirst for recognising that building a consensus on how to meet the changing nature of healthcare needs for a changed population should be delivered. It's simply about appealing to a core 35 per cent vote that might deliver them an election victory on the basis of a simplistic but failed policy of the past.

I hope that the public will look to what Labour have not said.

Their £30 billion would not even plug the deficit anticipated during the next Parliament. So what then: more tax, more borrowing? Their proposed "solution" does not address the fundamental problem of an inevitable annual average increase in demand for NHS healthcare of four per cent - which would mean that Labour's tax raid of £30 billion would not last for long, but simply paper over the cracks. The sustained increase in demand from the demographic shift in England means that the challenges we face cannot be solved without a fundamental re-think about what the NHS does. We also need to consider how we, the public, take personal responsibility to look after both ourselves and our children - and ask if we are prepared to take more responsibility for self-care, and embrace the use of new technology.

It's time that Labour stopped trying to con the public ( and their core vote in particular) that failed policies of more tax and more spending are the answer. Plainly, they are not.

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UK car insurance cost at four

The cost of insuring a car has fallen to a four-year low as motorists benefit from a record 19 per cent drop in average premiums compared with a year ago.

The Confused.com car insurance price index, in association with Towers Watson, reveals the average cost of comprehensive car insurance in the first quarter stood at STG596 ($A1,068.77), a drop of Stg140 against this time last year.

The figure, including a reduction of 7.5 per cent on the previous quarter, means average premiums have dipped below Stg600 for the first time since late 2009.

Confused.com said the price drops were across the board, with male and female motorists in all age groups benefiting from reduced premiums.

However, it warned that the pattern of continuous price reductions over the past couple of years was unlikely to be sustained.

The benefits of falling prices have been particularly notable for younger drivers as the average premium for a 17-year-old fell by nearly 39 per cent in the last year, equating to a cost saving of nearly Stg1400 to Stg2203 for first-time motorists.

A typical 50-year-old also enjoyed a year-on-year price reduction of 20 per cent to Stg511, the report added.

Despite enjoying the greatest price decrease, the Manchester and Merseyside area still ranks as one of the most expensive for comprehensive car insurance premiums (Stg832), outranked only by inner London, where the average price comes in at Stg985.

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Car insurance policy costs down

The cost of insuring a car has fallen to a four-year low as motorists benefit from a record 19% drop in average premiums compared with a year ago.



The Confused.com car insurance price index, in association with Towers Watson, reveals the average cost of comprehensive car insurance in the first quarter stood at £596, a drop of £140 against this time last year.

The figure, including a reduction of 7.5% on the previous quarter, means that average premiums have dipped below £600 for the first time since late 2009.

Confused said the price drops were across the board, with both male and female motorists in all age groups benefiting from reduced premiums.

However, it warned that the pattern of continuous price reductions over the last couple of years was unlikely to be sustained.

The benefits of falling prices have been particularly notable for younger drivers as the average premium for a 17-year-old fell by nearly 39% in the last year, equating to a cost saving of nearly £1,400 to £2,203 for first-time motorists.

A typical 50-year-old also enjoyed a year-on-year price reduction of 20% to £511, the report added.

Despite enjoying the greatest price decrease, the Manchester and Merseyside area still ranks as one of the most expensive for comprehensive car insurance premiums (£832), outranked only by Inner London, where the average price comes in at £985.

Shares in car insurers fell on the London stock market recently as insurance analyst Eamonn Flanagan of Shore Capital Stockbrokers said the report made for "grim reading" for the likes of Admiral, Esure and Direct Line.

He said competition remains fierce in the industry, although there may be other reasons for the decline, such as the increased use of telematics technology.

Insurers are also benefiting from better claims trends, having surged in previous years due to sharp hikes in personal injury claims, fraud, uninsured drivers and regulatory changes.

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Getting married means cheaper car insurance

A Massachusetts teacher who was attacked by a student now says her job is in jeopardy. The incident was caught on camera and posted online.

Breaking News // Nine people were killed Thursday in a three-vehicle crash involving a bus carrying high school students on a visit to a college. The crash has shut down north- and south-bound traffic on Interstate 5.

You can make an easy decorative handmade wreath for your home using old scraps of fabric.

Welcome to Mass Appeal's Pet of the Week. Every Thursday, we'll introduce you to animals looking for a home from the Dakin Humane Society.

20-year-old married women pay on average 22% less than 20-year-old single women

By Alison Kosik (CNN) Published: Thursday, April 10, 2014, 9:30 pm

(CNN) - Think you're paying too much for car insurance? Try getting married. That should lead to lower rates, at least according to one study.

Getting married can be a money-saving venture for some people. Couples split housing and other financial obligations, like groceries or utility bills.

But how about this one? Getting married could save you a few bucks on car insurance. That's the conclusion of a new study by " InsuranceQuotes.com ". Insurance-Quotes says a 20-year-old married woman pays an average of 22% less than a 20-year-old single woman. It's a similar story for married men versus single men. Some experts say people get more serious about being better drivers when they're married.

But the biggest factor in determining how much you pay for car insurance? Age. Older, more experienced drivers tend to be safer drivers. Data shows that teenagers have a higher crash rate. That means they're more expensive to insure. A 20-year-old single male driver pays an average of 49% more than his 25-year-old counterpart.

The sweet spot: the cheapest rate goes to 60-year-olds. After that, premiums begin to creep up again.

For insurance companies, it's all about assessing risk. Groups that tend to file the most claims pay the most for coverage.

And that old saying that women make better drivers? Well, Insurance-Quotes says it's true, so women typically pay less than men for car insurance, but only for a little bit. The gap narrows around age 30, and eventually, men pay less. Mass. teacher may lose job after classroom attack



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The least expensive 2014 cars to insure

If you want to save money on auto insurance, spring for an SUV or minivan. Insure.com's annual ranking of the vehicles with the best car insurance rates is dominated by non-sedans.

A few years ago, minivans held a good grip on our "least expensive to insure" rankings. But small and mid-size SUVs have been increasingly grabbing ranking spots. This year, minivans account for just five of the top 20 places. (See the 2014 rankings for the most expensive cars to insure and car insurance rates by state.)

And Jeep grabs a remarkable seven of the 20 "least expensive to insure" spots.

The advantages that propelled the minivans to the best spots are now being seen with SUVs: Family-friendly vehicles used mainly for safely ferrying kids around to Scout meetings and soccer matches. The parent driving the kids is among the least likely to speed, crash or have a claim.

And good rates always boil down to claims: When drivers of a certain vehicle submit fewer claims and/or less expensive claims, all owners that vehicle benefit with better car insurance rates.



That brings us to the Jeep Wrangler, Patriot, Compass and Grand Cherokee. Their good insurance rates hinge on Jeep owners.

While Jeeps exude an "adventurous spirit," they're usually not used for reckless abandon.

According to Karl Brauer, senior analyst for Irvine, Calif.-based Kelley Blue Book, owners of Jeeps tend to be single or married women under age 45, who display prudent driving behavior.

"While there is an 'adventuresome' image to the Jeep brand, for every Wrangler that does serious off-roading, there are dozens of Wranglers and Grand Cherokees and Compasses -- and CR-Vs, Siennas and Traverses -- that are used to carefully haul kids around suburbia at sub-50-mph speeds most of the time," he says. "This demographic and these driving conditions don't cause a lot of accidents, thankfully."

While advertising may show Jeeps on craggy rocks, it's not unusual for Jeeps to never go off-roading.

Mark Takahashi, auto editor for Edmunds.com in Santa Monica, Calif., agrees that most Jeeps are regarded as family vehicles. "If you're driving your family around, you will drive more carefully, and not take chances, because you have a vested interest in being a careful driver," he says.

Jeep Wranglers in particular are very economical to repair, which helps keep insurance rates down. If you get a dent in your door, the body shop can easily remove the door.

"It's usually bolted rather than welded together. Look at the doors of a Jeep Wrangler to this day, and they're removable, just like the old Army Jeeps," says Takahashi. Riding high

Joe Wiesenfelder, executive editor of Chicago-based Cars.com, agrees Jeep's victory on the "least expensive to insure" rankings is a reflection of both how safely Jeep owners drive their vehicles and the cost of repair and replacement of Jeeps.

"You'd certainly be able to theorize that the owners of any one on this list are less likely to have collisions, and that the vehicles are less likely to be stolen. If they're low-volume cars, that suggests less of a replacement part market" for stolen parts.

Jeeps and SUVs also likely have an advantage because of their height. "They are higher-riding than the average car," Wiesenfelder says. "So if they are in a collision with an average car, that car will have greater damage than the Jeep." Methodology

Insure.com commissioned Quadrant Information Services to provide average auto insurance rates for 2014 models. Averages were calculated using data from six large carriers (Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm) in 10 ZIP codes per state. Not all models were available, especially exotic cars. More than 850 models are included in the 2014 study.

Averages are based on full coverage for a single 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. This hypothetical driver has a clean record and good credit. The rate includes uninsured motorist coverage. Average rates are for comparative purposes. Your own rate will depend on personal factors.

More from Insure.com

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State lawmakers question auto insurance rate factors

By Associated Press Published: Thursday, April 10, 2014, 9:24 am



ALBANY, N.Y. (AP) - State lawmakers are taking a closer look at why New Yorkers pay some of the highest auto insurance rates in the nation.

Insurance industry representatives, consumer advocates and state officials tasked with regulating insurance are expected to weigh in at a legislative hearing Thursday morning.

The hearing is intended to focus on the availability of affordable automobile insurance and the factors that contribute to high insurance costs. Report: More NY children have health insurance

Police crackdown on distracted driving with your cell phone

Cuomo to stop by Main Transit Fire Hall



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