Providers in the U.K.’s markets for cash savings, mortgages, insurance, mobile phone contracts and broadband are burdening customers with a “loyalty penalty” of around 4 billion pounds ($4.4 billion) a year, the Competition and Markets Authority said. Vulnerable people, including …
Some UK insurers may be forced to change how they set their prices for motor and home insurance as a result of a regulatory investigation next year, according to Fitch Ratings. Insurers have been accused of overcharging customers who do …
Telecoms and financial services companies face an investigation by Britain’s competition regulator after consumer body Citizens Advice complained that customers who do not switch providers were being “ripped off” . Such customers were being overcharged 4.1 billion pounds ($5.2 billion) …
Plum Underwriting, the specialist home insurance managing general agent in the UK market, has opened an underwriting and service center as part of its strategy to support continued growth. The center, located in Basildon, England, brings together underwriting, claims, pricing, …
Neos, a UK connected home insurer, announced last week it has secured a £5 million (roughly $6.4 million) series A investment led by Aviva Ventures together with strategic partner Munich Re. The strategic investment accelerates Neos’ growth as the UK’s …
Britain’s finance minister George Osborne said on Wednesday he would raise the tax on motor and home insurance premiums by 0.5 percentage points to 10 percent to fund flood defenses, boosting insurance shares as the rise was smaller than anticipated. …
A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance premium tax (IPT), to …
The UK’s financial regulator said insurance companies are not always providing clear information to consumers about whether it is cheaper to pay for coverage upfront or in installments. The Financial Conduct Authority said the industry should take action when required …
London-based RSA announced its appointment as the sole underwriter for Cavere Home insurance products which will be available to brokers from January 2015 via Cavere’s Magenta platform, which provides online quotes and applications for intermediaries. Commenting on the appointment, Tim …
Frontline Insurance has launched a new rental home insurance product for owners of rental property in South Carolina. The coverage protects non-owner occupied properties in coastal areas and offers protection from fire damage and the owner from legal liability. Coastal …
