Tuesday,January 06,2009

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Are you prepared for a pet crisis
What can you do to soften the blow of a potentially ruinous bill from the vet at Christmas?
Bizarre Christmas insurance claims
Candle mishaps and dozy dogs - that's why we claim at Christmas. Money Mail looks at some of the more bizarre Christmas insurance claims
Egg hit with £721,000 fine for PPI failings
Egg has been slapped with a £721,000 fine and must compensate customers after 'serious failings' in selling credit card payment protection insurance
Slump will bring boom time for burglars
Burglary could become a growth industry in the recession and insurers are urging householders to ensure their cover is up to scratch
Dying girl gets travel cover for Disney trip
A travel insurer has finally offered cover allowing Hannah Jones her dying wish of a trip to Florida's Disney World

Home shopping sales targeted

The Competition Commission has ordered a clampdown on the sale of payment protection insurance (PPI) by home-shopping outlets and catalogues.

The regulator is concerned that people who buy furniture, clothes and electrical items on credit – such as "buy now, pay later" or "pay nothing for a year" deals – are being sold inappropriate and expensive insurance.

The commission said there was little competition between providers on price and other factors, limited ability for customers to search for alternatives or switch products and a considerable point-of-sale advantage for the providers.

PPI policies are plans that claim to cover people with debts in the event of accident, unemployment or sickness. They have long come under fire for being mis-sold by pushy shop assistants and bank advisers and have been subject to investigations by the Office of Fair Trading and the Financial Services Authority.

This week Alliance & Leicester was fined £7m for what the FSA called the "most serious mis-selling" of PPI. The bank did not make it clear that the insurance was optional and trained its staff to put pressure on customers when they queried the inclusion of PPI in their quotations, the FSA said. In January HFC Bank, a lender owned by HSBC, was fined a record £1.09m by the Financial Services Authority for failing to treat customers fairly when selling PPI.

Thousands of drivers who bought cars on hire purchase face 'negative equity'
Thousands of motorists who bought cars on hire purchase are handing them back to finance companies.
Three more ways to earn a decent return
Rate alert: Our regular update bringing you the best savings deals.
2008: The year of capital destruction
Diary of a private investor: James Bartholomew's portfolio did well last year - it lost only 15pc of its value.
State benefits to help home owners facing repossession
Improvements to state benefits aimed at keeping people in their homes have come into force.
Don't borrow from mates or rely on Bank of Mum and Dad: Credit crunch advice for Girl Guides
Girl Guides are being given tips on how to look after their money as the effects of the economic downturn reach teenage girls.
Tories' tax pledge: What it means for savers and pensioners
The Conservatives have promised to abolish basicrate tax on savings. But how much extra money will this put in your pocket?

Legal & General Q3 revenues down

UK-based insurer Legal & General Group has reported that its revenues for the third quarter of 2008 declined 1.5% to GBP331 million from GBP336 million posted in the same quarter of 2007.

Sales for the first nine months ended September 30, 2008 increased 5% to GBP1.14 billion, as compared to GBP1.09 billion reported for the first nine months ended September 30, 2007.Tim Breedon, group CEO, said: "These results once again underline the strength of our broad distribution model, high quality product offering and robust financial position. We remain at best cautious about the economic outlook for the UK, but are confident that we are well positioned to exploit opportunities throughout the current economic cycle."

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