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.... In fact, its value versus the euro was at its lowest level so far this year. This translates into higher medical costs for insurers, because when policyholders become ill or are injured abroad, the insurance company will usually have to pay the healthcare provider in the local currency. ... [Read full article on Guardian ]
Saturday 1st of July 2017 06:00:06 AM
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....If you buy a couple or family policy you might think each person is covered for any trip – but think again. An American Express “Essential” policy assumes couples are joined at the hip – it won’t cover one partner travelling without the main policyholder. ... [Read full article on Guardian ]
Sunday 2nd of July 2017 06:00:21 AM
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Latest Finance News related to Policyholder

What’s your policy when it comes to having a perfect holiday? image
Source : Guardian [Read Article] Sunday 2nd of July 2017 06:00:21 AM
....If you buy a couple or family policy you might think each person is covered for any trip – but think again. An American Express “Essential” policy assumes couples are joined at the hip – it won’t cover one partner travelling without the main policyholder. ...
Up goes travel insurance, all under the umbrella of Brexit image
Source : Guardian [Read Article] Saturday 1st of July 2017 06:00:06 AM
.... In fact, its value versus the euro was at its lowest level so far this year. This translates into higher medical costs for insurers, because when policyholders become ill or are injured abroad, the insurance company will usually have to pay the healthcare provider in the local currency. ...
Don't change insurer regularly? It could be costing you more than £1,400 image
....The Association of British Insurers said the rules on renewal transparency are only just coming into force and will benefit consumers. A spokesman said: “These will ensure that renewal notices show the current as well as the new premium, and contain a reminder to policyholders to consider shopping around. ...
The home insurance mistake costing YOU £123 every year image
Source : Daily Express [Read Article] Wednesday 3rd of May 2017 12:05:00 AM
....He added: “In the long term, we expect to see a move towards longer term, fixed price policies, something we’re already offering and which 90 per cent of people think insurers should offer. "This gives policyholders peace of mind that prices won’t continue to rise, while saving time and money. ...
A hole in home insurance cover that could leave millions out of pocket image
Source : Guardian [Read Article] Saturday 8th of April 2017 06:00:31 AM
....Aviva initially advised Picone that it would deal with the matter, but later rejected the claim. It said that under the terms of the policy contents insurance was required if the policyholder was both the owner and the occupier of the property. ...
PPI claims deadline is announced image
Source : BBC [Read Article] Thursday 2nd of March 2017 07:21:58 AM
....The imposition of a deadline is likely to lead to a fresh wave of text messages and recorded calls by those offering to make claims on a customer's behalf. PPI was designed to cover loan repayments if the policyholder fell ill or lost their job. ...
AMC, APR, ERC explained: The ridiculous financial acronyms that serve to confuse image
Source : Daily Express [Read Article] Wednesday 1st of March 2017 09:01:00 AM
....If your pension is invested in a “with-profits” fund and you take your money before your selected retirement age the company may apply a Market Value Adjustment. Tully says: “This ensures a fair share is left for the other policyholders, but will normally reduce the value of your policy. ...
The 'crazy' new car insurance rules set to cost YOU £1,000 in changes  image
Source : Daily Express [Read Article] Monday 27th of February 2017 02:08:00 PM
....Elizabeth Truss' decision to change rates used to calculate payouts has been labelled "crazy" and "reckless" by the trade group the Association of British Insurers (ABI). The move is expected to send costs for serious injury claims soaring, with the burden shouldered by policyholders. ...
NHS faces £1bn annual bill after 'reckless' change to injury payouts image
Source : Guardian [Read Article] Monday 27th of February 2017 10:45:09 AM
.... This obviously affects insurers, but also organisations including the NHS, the armed forces and the Motor Insurers’ Bureau, which is liable for claims against uninsured drivers,” he said. “Ultimately, these increased costs will be funded by policyholders and already overstretched public finances. ...
How artificial intelligence could help make the insurance industry trustworthy image
....The company, which is registered as a public benefit corporation, includes the charity component to show it’s not just about making profits. This practice is unusual because an insurance company usually keeps all the profit or pays dividends to its shareholders or policyholders, said Justin Sydnor, a behavioral economist and associate professor of risk and insurance at the University of Wisconsin-Madison. ...
Japanese insurance firm replaces 34 staff with AI image
Source : BBC [Read Article] Thursday 5th of January 2017 03:43:57 PM
.... . Fukoku Mutual will use the AI to gather the information needed for policyholders' payouts - by reading medical certificates, and data on surgeries or hospital stays. ...
Japanese company replaces office workers with artificial intelligence image
Source : Guardian [Read Article] Thursday 5th of January 2017 09:57:31 AM
. A future in which human workers are replaced by machines is about to become a reality at an insurance firm in Japan, where more than 30 employees are being laid off and replaced with an artificial intelligence system that can calculate payouts to policyholders. ...
The Crusader: Sorting your travel insurance paperwork abroad will save you time and stress image
.... . Crusader regularly gets complaints from policyholders about this sticking point. ...
A minor shunt that brought my credit rating crashing down image
Source : Guardian [Read Article] Wednesday 9th of November 2016 07:00:02 AM
.... “Unfortunately, over the course of six months, the third party insurers issued no warning to us that they were considering legal action,” says a spokesperson. “The only communication was the legal summons, issued directly to the policyholder once legal proceedings had begun, which unfortunately was not received. ...
How to stop loved ones falling into pensions poverty image
Source : Daily Express [Read Article] Wednesday 5th of October 2016 08:03:00 AM
.... At age 65, a pension pot of £100,000 would buy a single life annuity paying a level income of £4,624 a year, but this would fall to £4,167 for a joint life annuity, according to figures from Hargreaves Lansdown. Tully said families may prefer an annuity with an income or moneyback guarantee, which pays out if the main policyholder dies early: “In that way you can make sure you and your family benefit. ...
FTSE 100 rises but Sainsbury's hit as sales slide image
Source : BBC [Read Article] Wednesday 28th of September 2016 08:05:44 AM
....5% after the firm bought UK insurance business Abbey Life from Deutsche Bank for £935m. Abbey Life has 735,000 policyholder and manages £10bn worth of assets. ...
Pensioner shock as 2016 is worst EVER year for retirement income image
Source : Daily Express [Read Article] Thursday 15th of September 2016 04:09:00 PM
....uk. The insurance products provide a set payout for the rest of a policyholder's life - and used to be a good way for pensioners to guarantee and protect future income. ...
PENSION THREAT: Warning for pensioners over government plans to sell off retirement income image
....The provider said vulnerable investors facing financial pressures or poor health are particularly at risk in the secondary annuity market. Concerns were also raised by the fact that policyholders will not be able to make a partial sale, as were warnings of a possible increase in fraud or scams as a result of the service. ...
Payday loan complaints more than triple image
Source : BBC [Read Article] Monday 5th of September 2016 11:10:14 PM
REVEALED: Drivers insurance costs ROCKET after scrapes that weren't even their fault image
....An incident is deemed the fault of a driver if their insure has to pay for it - even if they weren't to blame - for example, of the other party were uninsured or couldn't be found. Only when the driver's doesn't have to pay out is the incident considered non-fault by the policyholder. ...
Tinder-style app offers millennials phone and technology insurance image
Source : Guardian [Read Article] Wednesday 3rd of August 2016 06:00:40 AM
....Alongside the items, buyers basic worldwide travel insurance covers medical bills and cancellations. Cover for damage to a mobile phone screen, is also included, as is up to £1,500 for replacement keys and locks, if the policyholder loses their keys and is locked out of their car or house. ...
PPI claim deadline proposed for June 2019 image
Source : BBC [Read Article] Tuesday 2nd of August 2016 07:30:43 AM
Lightning strikes lead to claims spike, says insurer image
Source : Guardian [Read Article] Thursday 23rd of June 2016 03:40:46 PM
....Direct Line said that since the start of the month it had received more than 200 home insurance claims for lightning damage, when it usually receives between 10 and 20 a month. Among the claims are one for £45,884 worth of damage from a policyholder in Preston who saw their electrical system hit, causing damage to a range of equipment including CCTV cameras, burglar alarms and televisions, and a central control system for their property. ...
Avoid pet cat-astrophe: Five minute guide to making successful vet bill claims image
....8million of successful claims settled every single day. He says pet insurance plays a vital role in helping pet owners manage many of the unexpected costs of looking after their pets, mainly veterinary treatment bills: “Complaints are very low, with only one in every 1,000 policyholders complaining to the ombudsman last year. ...
Cancer's huge costs could force vulnerable families to sell their home, warns charity image
.... Some insurance policies, such as Critical Illness Cover, pay out a tax-free lump sum of cash if the customer is diagnosed with cancer or another specifically listed medical condition, including heart attacks and stroke. The payout typically depends on the premiums you have paid, but the money can be used to pay for anything the policyholder chooses, from private health care or any other unforeseen costs. ...
Re flood-risk homes … at last, affordable cover image
Source : Guardian [Read Article] Saturday 9th of April 2016 06:00:08 AM
.... This group has tended to find that premiums have been raised to unaffordable levels, or that flood cover was refused. The scheme is largely being paid for by a levy on all home insurance policyholders – £10. ...
Shared parental leave is suffering teething problems image
Source : Guardian [Read Article] Monday 4th of April 2016 11:01:19 PM
....The PFCA chairman, Nick Baxter, suggests that on a conservative estimate about three-quarters of policies were mis-sold. Not all of those sales would warrant a full refund – in some cases a policyholder may have been flogged an expensive single premium policy when they would have willingly bought one that they paid for every month. ...
Flood Re scheme brings affordable insurance to homes in high-risk areas image
....Flood Re, which claims to be a world first, received the final go ahead from financial regulators last week, and on Monday will start accepting the first premiums and offering cover to householders. The scheme, which is largely being paid for by a levy on all home insurance policyholders – £10. ...
Car insurance and the little-known world of credit hire companies image
Source : Guardian [Read Article] Monday 28th of March 2016 07:00:20 AM
....Many insurers and CHCs subscribe to a voluntary agreement which sets out the maximum daily hire rates that can be charged for replacement vehicles including administration and late payment fees. Nonetheless, the CMA found that at-fault insurers end up paying an average of £607 extra for vehicle hire arranged through CHC’s than through direct hire, a cost ultimately passed on to policyholders through higher premiums. ...
Eviction for last family run restaurant on the Strand as asset manager seeks 'best returns' image
....A statement from Aviva Investors said: “We recognise the concerns of the owners of the Salieri restaurant and understand the implications to the Sami family of serving these notices. However, as a large asset manager we also have a fiduciary duty to deliver the best possible investment returns to our clients, including individual policyholders who entrust us with their assets. ...
Banks face up to old and new complaints image
Source : BBC [Read Article] Tuesday 23rd of February 2016 12:43:26 PM
....PPI has dominated the landscape of complaints to financial services companies for many years now. The loan insurance was designed to cover repayments if policyholders fell ill or were made redundant, but it was mis-sold on an industrial scale to those who did not want or need it. ...
Insurers reveal success rates on claims for car, travel and home insurance image
Source : Telegraph [Read Article] Tuesday 26th of January 2016 04:05:53 PM
.... The ABI also published statstics on home insurance: . • 79pc of home insurance policyholders who claimed, received a pay-out; . ...
One in five home cover claims rejected image
Source : BBC [Read Article] Tuesday 26th of January 2016 12:13:19 AM
....More than one in five home insurance claims is unsuccessful owing, in part, to the complexity of policies. Confusion about what is covered by insurance policies is one of the reasons that policyholders fail to receive a payout. ...
Insurance policies that help put your teenager in the driving seat image
Source : Guardian [Read Article] Saturday 23rd of January 2016 07:00:05 AM
....Parents of students who will only drive the family car during holidays should probably only buy cover as required, rather than adding their child for a whole year. Standard insurers are more likely to let policyholders add their offspring for a week or two as required. ...
Source : Reuters [Read Article] Tuesday 19th of January 2016 01:33:46 PM
....The reforms introduced last year have allowed over-55s more freedom over what to do with their pension pots, removing an obligation to buy an annuity, which provides a fixed income for life. But some policyholders have faced hefty fees for accessing their cash, depending on the structure of the pension products. ...
Source : Reuters [Read Article] Tuesday 19th of January 2016 01:33:46 PM
....The reforms introduced last year have allowed over-55s more freedom over what to do with their pension pots, removing an obligation to buy an annuity, which provides a fixed income for life. But some policyholders have faced hefty fees for accessing their cash, depending on the structure of the pension products. ...
Welcome to the great home insurance swindle image
Source : Guardian [Read Article] Saturday 16th of January 2016 07:00:25 AM
.... I expressed my personal opinion that they were taking advantage of the fact that many existing customers are elderly and not perhaps so clued-up or able to challenge the premium every year. Their response made it clear that the onus was squarely on the policyholder to try to obtain the best premium. ...
Equitable Life compensation deadline imminent image
Source : Telegraph [Read Article] Thursday 24th of December 2015 09:47:04 AM
.... . The Treasury said that after “major efforts to trace policyholders” it had paid almost nine out of 10 of those eligible. ...
Will you be making a bizarre insurance claim this Christmas? image
Source : Telegraph [Read Article] Thursday 24th of December 2015 09:30:51 AM
.... . While sitting comfortably at home in Sheffield, one policyholder was startled when high winds caused an outside bin to hit the window, causing £160 worth of damage. ...
Swap your pension for cash from April 2017  image
Source : Telegraph [Read Article] Tuesday 15th of December 2015 09:03:34 AM
.... If a particular insurer thinks it has taken on too much risk, it could reduce it by buying back annuities. For the policyholder, the question is what price is offered. ...
Don’t be a home insurance frog – make the leap to a different policy image
Source : Guardian [Read Article] Saturday 5th of December 2015 07:01:06 AM
....Elderly homeowners in particular are slowly cooked by insurers. We were contacted by the daughter of a loyal policyholder with RSA who had had his home insurance with the company for an extraordinary 58 years. ...
Insurers must inform customers of premium rises, regulator rules image
Source : Guardian [Read Article] Thursday 3rd of December 2015 12:45:06 PM
. Millions of people should enjoy cheaper insurance after the City regulator announced measures to tackle the problem of companies bumping up the premiums of loyal policyholders. ...
Crusader: Hikers' £890 uphill struggle after insurance claim image
Source : Daily Express [Read Article] Monday 30th of November 2015 12:23:00 PM
....Crusader asked leading UK insurer Direct Line for clarity. "In relation to EHIC, any part of a policyholder's medical expenses is covered," said a spokeswoman. ...
'Degree needed' to fathom small print image
Source : BBC [Read Article] Friday 13th of November 2015 12:25:13 PM
.... . "They will continually review their customer materials, as they want policyholders to read policies and understand what they are covered for and what they need to be aware of. ...
Dashboard cameras: Crusader's all you need to know guide image
Source : Daily Express [Read Article] Wednesday 11th of November 2015 03:44:00 PM
....There is also a further 2. 5 per off for ­Swiftcover policyholders who have a device made by Nextbase, one of the leading manufacturers in this field. ...
Insurers pledge to end £200 'auto-renewal' rip-off – but only if you're 'vulnerable' image
. Insurance policyholders whose premiums rise dramatically after the first year when their policies are renewed automatically are to be protected by a new industry code of conduct. ...
The nine most toxic investments ever image
Source : Telegraph [Read Article] Monday 2nd of November 2015 08:01:23 AM
.... These investments were widely touted as offering “low-risk” returns. But a combination of policyholders living longer than expected and an inability to sell the policies when investors in the funds wanted to cash in created major difficulties. ...
Struggles for card compensation image
Source : Telegraph [Read Article] Saturday 31st of October 2015 08:42:19 AM
.... JB, Lincs . The CPP compensation scheme turned down both cases, stating that the rules were voted on by eligible policyholders and it could not make individual exceptions. ...
Third-party insurance holders pay more money for less cover image
Source : Guardian [Read Article] Saturday 31st of October 2015 07:00:12 AM
....Drivers are being warned not to assume that third-party insurance will be the cheapest option after research by Guardian Money found they were being quoted up to £4,000 a year more for policies that offer less cover than fully comprehensive plans. Around nine in 10 drivers choose comprehensive motor insurance because it offers the best level of protection against injury or financial loss for the policyholder, their passengers and for third parties. ...
Insurance claim: Saga and AA won't pay towards my burst water tank image
Source : Telegraph [Read Article] Saturday 24th of October 2015 07:00:59 AM
.... RO, Surrey . Eighteen months ago Saga and the AA separated but Saga still uses the AA’s home emergency service for its policyholders. ...
How these health conditions add to your life cover image
Source : Telegraph [Read Article] Saturday 17th of October 2015 07:13:37 AM
.... . Term cover, which is the most common and economical option, pays a set sum on the death of the policyholder if it occurs within a fixed period, say 25 years. ...
The real reason my home insurance premiums jumped 23pc image
Source : Telegraph [Read Article] Friday 2nd of October 2015 10:02:36 AM
.... Fine. But couple the auto-renewal facility with the fact that most or all insurers don’t tell you how much more you are paying every year, and it’s a great ruse to drag cash from existing policyholders. ...
LV= home insurance renewal quote was much cheaper online image
Source : Guardian [Read Article] Monday 28th of September 2015 06:00:01 AM
.... JM, Reigate, Surrey. This chimes with the industry practice (which, unsurprisingly, it always denies) of sucking in new customers with better deals than those given to existing policyholders. ...
Swiss Re seals  £1.6billion Guardian deal image
Source : Daily Express [Read Article] Thursday 24th of September 2015 11:39:00 AM
.... The deal, financed from cash and debt and expected to complete early next year, will give it over four million policies. Guardian was put up for sale earlier this year by private equity firm Cinven, under whose four-year ownership it has grown from 300,000 to 900,000 policyholders and from £8billion assets under management to £20billion. ...
AA warns insurance tax will increase 'churn' as it suffers £63.6m loss image
Source : Guardian [Read Article] Tuesday 22nd of September 2015 08:26:40 AM
. The AA has slid to a near-£64m loss and said that the government’s increase in insurance premium tax would increase “churn” among its customers – the number of policyholders shopping around and switching to rival insurers. ...
Once bitten - but the watchdog can't be shy: life policies are all the rage again image
....Perhaps it is because the margins aren’t so low after all, and the market served by the business is a captive one. Which leads to a second question: who is looking out for the policyholders while the City plays pass the parcel with their policies? . ...
Why over-declaring penalty points lets car insurers overcharge 2.8 million drivers image
.... Convictions over drink and drugs can remain on records for 11 years - but may be "spent" after just five years  Photo: PA. The Financial Ombudsman, the dispute resolution body, has said it will side with the customer if an insurer unfairly uses unspent convictions to give them less favourable terms than other policyholders, such as higher premiums. ...
....Royal London is the country’s biggest mutual life, pensions and investment company with around 5. 3 million policyholders. ...
Savers will be turned off by pensions tax overhaul, warns Royal London image
Source : Telegraph [Read Article] Tuesday 18th of August 2015 12:42:27 PM
.... . Royal London, a mutual with more than five million policyholders, has been one of the early beneficiaries of the first wave of retirement reforms, which were announced in 2014 and came into force in April. ...
Borrow from the council to pay care fees? image
Source : Telegraph [Read Article] Tuesday 18th of August 2015 07:27:33 AM
.... These policies are called "care annuities" or "immediate needs annuities" and pay much higher rates than the ordinary kind. This is because the average care annuity pays out for between two and three years before the policyholder dies, according to Tom Kenny of Partnership, one provider of such annuities, whereas a conventional annuity will often pay out for about 20 years. ...
Driver database helps uncover 212,000 car insurance lies image
Source : Telegraph [Read Article] Friday 14th of August 2015 03:32:52 PM
.... . In many cases, parents try to insure a vehicle that is mainly driven by their son or daughter as the principal policyholder in an attempt to get a cheaper deal. ...
Annuity sales rise by a third image
Source : Telegraph [Read Article] Tuesday 11th of August 2015 08:09:31 AM
....8bn in three months . In April, sales of “single-life” annuities (those that cover the policyholder only) fell by 7pc compared with March to reach their second lowest level on record, the report found. ...
'Why did insurer increase car premium when 91-year-old was removed from policy?' image
.... JS, Hants . A policyholder’s perception of “risk” and an underwriter’s perception are not always the same. ...
Planning a staycation? The need for travel insurance can really hit home image
....And they can really add up – hotels in the UK can be as expensive as abroad plus there’s any pre-booked trains or internal flights. Circumstances under which you can claim include serious illness or death of the policyholder or a close relative (policies vary in how they define “close relative”, so check your documents). ...
'Our insurer won't pay out over £900 burglary' image
Source : Telegraph [Read Article] Sunday 19th of July 2015 05:32:34 AM
.... . Its adjudicator countered the “reasonable care” argument RSA put to it saying that this condition can only be relied on by an insurer where a policyholder has acted recklessly. ...
Standard Life 'with profits' policies: Are you one of 65,000 people owed up to £139,000? image
....The savings and investment giant demutualised in 2006, which left around 2. 4million policyholders with an entitlement to cash or shares. ...
Insurance cheats cost households £90 a year as bogus claims reach record high image
.... . Often policyholders might not realise they are committing fraud, for example by failing to provide the correct information when they sign up for car cover. ...
Health insurers push states for premium hikes as Americans play guinea pigs image
.... Insurers have requested that regulators approve average premium increases of 14% and 16% for silver and gold plans respectively. These plans have smaller deductibles and more generous benefits, meaning that their policyholders have to pay a smaller share of their healthcare costs out of their own pockets. ...
'Are savers losing out on bonuses?' image
Source : Telegraph [Read Article] Sunday 12th of July 2015 07:00:38 AM
.... . I have always felt that the decision not to pay bonuses at that time was very much in favour of Phoenix and to the detriment of the policyholder. ...
The budget behind the headlines image
Source : Guardian [Read Article] Sunday 12th of July 2015 05:59:01 AM
....The government also announced it will shut the Equitable Life payment scheme to new claims at the end of the year. It was set up and run by the government to make payments to Equitable Life policyholders who suffered losses as a result of government maladministration in the regulation of the now defunct insurance giant. ...
What next for Tunisia holidaymakers? image
Source : BBC [Read Article] Friday 10th of July 2015 11:48:05 AM
....First of all, you would need to have bought the travel insurance before the advice from the FCO changed to advise against all but essential travel. Some insurers would have required policyholders to pay a bit more for travel disruption cover. ...
Be sure your travel insurance will pay out if disaster strikes image
Source : Guardian [Read Article] Sunday 5th of July 2015 06:00:07 AM
....”. Experts also warn that different policies may have wildly varying stances on issues such as alcohol consumption, what constitutes a hazardous sport, and what medical conditions policyholders need to disclose. ...
Aviva charges £7,000 interest on a loan we didn’t know about image
Source : Guardian [Read Article] Wednesday 1st of July 2015 06:00:05 AM
....The Financial Ombudsman Service tells me that it receives a steady trickle of complaints about missed policy payments and covering loans that have not been flagged up. It says that, when it investigates such cases, it expects to see evidence that the finance company informed the policyholder about the loan and its terms plus a detailed breakdown of how the interest was calculated. ...
British homeowners reap insurance price cuts - except those who live in Bolton image
.... Overall, the price of home cover is at a five-year low after falling by an average £44 since 2010 to £116. But experts at MoneySupermarket warned that only policyholders who shop around for quotes every year will reap the benefit of falling prices. ...
The real reason for Sheila Hancock's soaring car insurance image
Source : Telegraph [Read Article] Tuesday 30th of June 2015 06:00:56 AM
.... . In recent years insurers have had to engage with new rules which prevented premiums being set on the basis of the policyholder's gender. ...
Carcraft goes bust along with all the services I paid for image
Source : Guardian [Read Article] Tuesday 30th of June 2015 06:00:08 AM
....I have happy news for you. Hitherto the thousands of Drive Happy policyholders were told their best hope was to write to Carcraft’s administrators and join the end of a long queue of creditors. ...
Are car insurance firms prejudiced against older people? image
Source : Guardian [Read Article] Friday 26th of June 2015 07:13:17 AM
....”. The insurer said her age and occupation were “not a cause for the particular increase in her renewal premium”, adding: “It is not in our interest to overcharge our policyholders, as we would lose profitable business. ...
Pension schemes and life insurance payouts at stake because of low interest rates image
....Low interest rates and loose monetary policies are threatening the future of the insurance and pension industries by forcing providers to switch their investments into riskier asset classes, a damning report has warned. The Organisation for Economic Co-operation and Development (OECD) said the current economic climate posed “serious challenges” to life insurers and final salary pension schemes, which may not be able to meet their obligations to policyholders in the future. ...

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