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The indemnifications

FSCS has paid out £204m in compensation for 2009/10

The Financial Services Compensation Scheme’s (FSCS) annual report and accounts for 2009/10 has revealed that more than £204m has been paid out in compensation to over 21,000 claimants. Two thirds of the compensation paid during the year was for payment protection insurance (PPI) and investment claims. The FSCS said PPI claims have increased significantly during the year rising to more than 2,400, and that it expected the number of claims in this area to continue to grow in 2010/11. Mark Neale, FSCS chief executive, said: “The FSCS achieved... 


Irish flooding Victims to Get £1,000 Payout

Householders hit by floods earlier this month will receive a £1,000 payment, it has been revealed. Parts of Belfast and Co Down were affected by the deluge with surface water making driving difficult. Environment Minister Edwin Poots visited one of the areas in Castlereagh caught up in the downpour. “Individual householders will be eligible for a £1,000 payment as an offer of practical assistance to those who have suffered severe inconvenience to ensure homes are made habitable as quickly as possible. It is not a compensation payment”...  Lire la suite

InsureandGo welcomes UN plan for increased lost luggage compensation

InsureandGo (www.insureandgo.com), the travel insurance provider, has welcomed plans by the United Nations to increase the compensation received by passengers if airlines lose their luggage. The UN’s International Civil Aviation Organisation has proposed increasing the maximum level of compensation from £972.80 currently to £1060.48 next year – a 9% increase. InsureandGo estimates that UK travel insurers receive over 33,000 claims for lost or stolen luggage every month1, and as global aviation passenger numbers are expected to double over...  Lire la suite

Insurance companies don’t cover car petrol theft

Petrol theft in the UK has dramatically increased, NoClaimsDiscount.co.uk reports that most car insurance companies also do not cover damage to cars that take place during incidences of petrol theft. Although petrol theft is a common occurrence, insurance companies do not replace the cost of petrol, because they state that their coverage is based on the exact terms of the policy. In other words, the policies cover actual theft of the car and/or items inside the vehicle or major damage caused by collisions. As the petrol is currently not classed...  Lire la suite