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.
- 2 Porn block in India: hundreds of sexual websites banned, internet outraged
- 4 Dutch King Willem-Alexander declares the end of the welfare state
- 5 Gamers confess the worst things they've done in The Sims
Jackie Chan in second place in Forbes' Highest Paid Actors list after magazine includes actors working outside US movie industry
Malaysia issues arrest warrant for Gordon Brown’s sister-in-law after she publishes stories on leader Najib Razak's financial affairs
Natalia Molchanova: World's most successful free-driver is missing and feared dead after disappearing in Mediterranean
Giant Minion terrorises drivers in Ireland as 40ft inflatable blocks traffic on Dublin road
Dutch King Willem-Alexander declares the end of the welfare state
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Chris Leslie: Jeremy Corbyn's anti-austerity agenda will harm the poor, says Labour shadow Chancellor
Landlords renting properties to illegal immigrants to face up to five years in prison
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Labour leadership race: Jeremy Corbyn could be the next Prime Minister, says Ken Clarke
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