A WEEK IN PERSONAL FINANCE
Sunday 10 December 1995
The cost of insurance fraud fell from pounds 600m in 1994 to pounds 585m this year, according to the Association of British Insurers. The ABI said it was committed to reducing fraud further and would encourage the prosecution of those making fraudulent claims.
Motor insurance premiums could fall further as big insurers such as Direct Line pass on savings from running their own repair garages, predicts actuaries Bacon & Woodrow. Further premium cuts of more than 10 per cent could be possible.
The Banking Ombudsman awarded record damages of almost pounds 1m against banks last year in response to complaints from consumers. The smallest award was pounds 10 and the largest pounds 70,000. But the Ombudsman said complaints to his office were down overall and suggested that banks might be improving both customer service and their own handling of complaints.
The UK's largest insurer, the Prudential, called on the Government to look at simplifying pensions. Measures suggested included extending the proposed "plain english" exercise for tax to pensions.
Employers are concerned about the cost of private medical insurance plans for staff to their organisations, according to a survey by the CBI.
- 1 Morgan Freeman on the riot-focused coverage of the Baltimore protests: 'F**k the media'
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 3 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to replace Jeremy Clarkson and co
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 Length of pregnancy can vary by up to five weeks, scientists discover
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Saudi Arabia's King Salman sacks senior aide for 'slapping' a journalist behind him live on TV
Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
Italian police 'reveal' what Jesus looked like as a young boy
Florida couple forced to register as sex offenders for having sex on public beach
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
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