http://www.news-insurances.com News-Insurances.com is an independent online media providing the latest insurance news for the insurance industry and consumers Thu, 09 Sep 2010 08:02:01 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 http://www.news-insurances.com/pension-study-accuracy-of-data-management-is-greatest-challenge/0167312580 http://www.news-insurances.com/pension-study-accuracy-of-data-management-is-greatest-challenge/0167312580#comments Tue, 07 Sep 2010 14:48:43 +0000 Tom Scott http://www.news-insurances.com/?p=312580 Research to support a new industry report released today on pension data management has shown that 57% of UK pension schemes believe improving the accuracy of member data is the greatest challenge schemes face as time moves towards The Pension Regulators enforcement of the ‘Record Keeping’ guidelines in 2012. Clear Path Analysis, a research and [...]]]> http://www.news-insurances.com/pension-study-accuracy-of-data-management-is-greatest-challenge/0167312580/feed 0 http://www.news-insurances.com/uk-pension-private-sector-final-salary-liabilities-hit-1-2-trillion/0167301022 http://www.news-insurances.com/uk-pension-private-sector-final-salary-liabilities-hit-1-2-trillion/0167301022#comments Thu, 02 Sep 2010 10:30:13 +0000 Tom Scott http://www.news-insurances.com/?p=301022 Pension liabilities for UK private sector final salary pension schemes have hit the £1.2 trillion (£1,200,000,000,000) landmark as market conditions continue to deteriorate for UK final salary pension schemes. The Aon200 index, which tracks approximately half of the UK’s private sector pension scheme liabilities shows liabilities of £608bn with assets making modest gains, but falling [...]]]> http://www.news-insurances.com/uk-pension-private-sector-final-salary-liabilities-hit-1-2-trillion/0167301022/feed 0 http://www.news-insurances.com/pension-employers-underestimate-risks-associated-with-poor-defined-benefit-membership-data/0167288350 http://www.news-insurances.com/pension-employers-underestimate-risks-associated-with-poor-defined-benefit-membership-data/0167288350#comments Fri, 27 Aug 2010 13:15:37 +0000 Tom Scott http://www.news-insurances.com/?p=288350 Most UK employers operating defined benefit pension schemes are underestimating the risks and failing to understand the impact of poor quality membership data. Over three-quarters of UK employers (76%) say that the quality of membership data is either of very low or low risk to their pension arrangements, according to research from Aon Consulting. Aon’s [...]]]> http://www.news-insurances.com/pension-employers-underestimate-risks-associated-with-poor-defined-benefit-membership-data/0167288350/feed 0 http://www.news-insurances.com/aon-pension-pots-continue-to-shrink/0167260892 http://www.news-insurances.com/aon-pension-pots-continue-to-shrink/0167260892#comments Mon, 16 Aug 2010 13:21:06 +0000 Damian Dozol http://www.news-insurances.com/?p=260892 Pension pots have shrunk further in the past four weeks, with a 30 year old’s and 60 year old’s annual pension income decreasing by £518 and £358 respectively and 65 year olds left on a mere £7,666 a year, almost half the adequate standard of living (£14,400*), according to data from Aon Consulting, the leading [...]]]> http://www.news-insurances.com/aon-pension-pots-continue-to-shrink/0167260892/feed 0 http://www.news-insurances.com/dwindling-pension-pots-support-retirement-age-review/0167210596 http://www.news-insurances.com/dwindling-pension-pots-support-retirement-age-review/0167210596#comments Thu, 22 Jul 2010 07:45:49 +0000 Damian Dozol http://www.news-insurances.com/?p=210596 Over the last two years, the projected annual retirement income for a 60 year old has decreased by over £3000, while 65 year olds can expect to live on barely half the amount suggested as an acceptable living standard, according to data from Aon Consulting. Aon also highlights that with life expectancy at age 65 [...]]]> http://www.news-insurances.com/dwindling-pension-pots-support-retirement-age-review/0167210596/feed 0 http://www.news-insurances.com/a-new-guaranteed-income-option-for-the-at-retirement-market-at-aegon/0167207262 http://www.news-insurances.com/a-new-guaranteed-income-option-for-the-at-retirement-market-at-aegon/0167207262#comments Tue, 20 Jul 2010 14:24:49 +0000 Barbara karouski http://www.news-insurances.com/?p=207262 Following its recent announcements to focus on the UK at-retirement market as a key strategic priority, Aegon today announces the launch of a secure income option on its Investment Control bond. The secure income option on the Investment Control bond provides customers with the security of a guaranteed income of 5% of their original investment [...]]]> http://www.news-insurances.com/a-new-guaranteed-income-option-for-the-at-retirement-market-at-aegon/0167207262/feed 0 http://www.news-insurances.com/retirement-funds-nearly-half-of-baby-boomers-are-likely-to-run-short-of-money-after-10-years/0167206778 http://www.news-insurances.com/retirement-funds-nearly-half-of-baby-boomers-are-likely-to-run-short-of-money-after-10-years/0167206778#comments Tue, 20 Jul 2010 08:21:08 +0000 Barbara karouski http://www.news-insurances.com/?p=206778 If you’re a baby boomer, the odds are high you’ll exhaust your retirement savings after 10 or 20 years of retirement, according to the latest Retirement Readiness Rating report released last week by the Employee Benefit Research Institute. Nearly half of older boomers _ those now aged 56 to 62 _ and some 44 percent [...]]]> http://www.news-insurances.com/retirement-funds-nearly-half-of-baby-boomers-are-likely-to-run-short-of-money-after-10-years/0167206778/feed 0 http://www.news-insurances.com/pension-deficit-hits-100-billion-deficits-could-increase-by-a-further-40-billion-over-next-year/0167186208 http://www.news-insurances.com/pension-deficit-hits-100-billion-deficits-could-increase-by-a-further-40-billion-over-next-year/0167186208#comments Thu, 08 Jul 2010 14:21:15 +0000 Sofia Ashmore http://www.news-insurances.com/?p=186208 Pension deficits have ballooned to the £100 billion landmark but the knock-on effects of the austerity measures announced in the Budget are likely to add to the woes of companies sponsoring final salary schemes over the next few years. However, in the long-term those measures will eventually start to erode the final salary debts of [...]]]> http://www.news-insurances.com/pension-deficit-hits-100-billion-deficits-could-increase-by-a-further-40-billion-over-next-year/0167186208/feed 0 http://www.news-insurances.com/comparethemarket-com-launches-new-motorbike-insurance-comparison-service/0167156314 http://www.news-insurances.com/comparethemarket-com-launches-new-motorbike-insurance-comparison-service/0167156314#comments Wed, 23 Jun 2010 09:30:26 +0000 Sofia Ashmore http://www.news-insurances.com/?p=156314 For motorcyclists looking for better deals on their bike insurance, comparethemarket.com has launched a new bike insurance comparison service. The quick and easy-to-use service allows consumers to search comparethemarket.com for excellent money-saving deals across a number of leading motorbike insurance brands including Bennetts, Suzuki, Honda, eBike and MCE. As well as motorbike insurance, comparethemarket.com’s existing [...]]]> http://www.news-insurances.com/comparethemarket-com-launches-new-motorbike-insurance-comparison-service/0167156314/feed 0 http://www.news-insurances.com/more-pillion-passengers-are-a-contributing-factor-to-a-57-increase-in-bodily-injury-claims-against-motorcyclists/0167151950 http://www.news-insurances.com/more-pillion-passengers-are-a-contributing-factor-to-a-57-increase-in-bodily-injury-claims-against-motorcyclists/0167151950#comments Mon, 21 Jun 2010 14:06:07 +0000 Tom Scott http://www.news-insurances.com/?p=151950 Since 2005 Aviva, the UK’s largest insurer, has seen an alarming 57% increase in the number of bodily injury claims made against motorcyclists. The insurer has also seen motorcycle claims costs increase by 51% in the same period, with the insurer’s statistics indicating that this is a consequence of more riders carrying pillion passengers. Motorcycle [...]]]> http://www.news-insurances.com/more-pillion-passengers-are-a-contributing-factor-to-a-57-increase-in-bodily-injury-claims-against-motorcyclists/0167151950/feed 0 http://www.news-insurances.com/allstate-and-perewitz-will-unveil-the-bike-at-the-2010-chicago-international-motorcycle-show/016727302 http://www.news-insurances.com/allstate-and-perewitz-will-unveil-the-bike-at-the-2010-chicago-international-motorcycle-show/016727302#comments Mon, 15 Mar 2010 13:10:26 +0000 Barbara karouski http://www.news-insurances.com/?p=27302 Allstate Insurance Company announced today it will be giving away a custom motorcycle designed by legendary bike builder Dave Perewitz during its “Allstate Pro Street Sweepstakes.” Allstate and Perewitz will unveil the bike at the 2010 Chicago International Motorcycle Show on Feb. 19. The Pro Street style bike – known for its stretched frame, low [...]]]> http://www.news-insurances.com/allstate-and-perewitz-will-unveil-the-bike-at-the-2010-chicago-international-motorcycle-show/016727302/feed 0 http://www.news-insurances.com/space-insurers-expected-to-generate-more-than-400-million-in-profit-for-2009/016710287 http://www.news-insurances.com/space-insurers-expected-to-generate-more-than-400-million-in-profit-for-2009/016710287#comments Mon, 22 Feb 2010 16:38:12 +0000 George Stobbart http://www.news-insurances.com/?p=10287 Space insurers are expected to generate more than USD400 million in profit for 2009 provided there are no claims before the end of the year, according to Aon’s International Space Brokers, the largest specialist risk adviser in this sector. The space insurance market has been very profitable over the last five years and this will [...]]]> http://www.news-insurances.com/space-insurers-expected-to-generate-more-than-400-million-in-profit-for-2009/016710287/feed 1 http://www.news-insurances.com/%e2%80%98act-now%e2%80%99-%e2%80%93-advisers-reminded-as-pensions-age-change-looms-near/016718040 http://www.news-insurances.com/%e2%80%98act-now%e2%80%99-%e2%80%93-advisers-reminded-as-pensions-age-change-looms-near/016718040#comments Wed, 10 Feb 2010 10:00:43 +0000 Barbara karouski http://www.news-insurances.com/?p=18040 The ABI is reminding financial advisers to check arrangements for clients that may be affected by the change to the National Minimum Pension Age. The minimum age changes from 50 to 55 on April 6 2010, with HMRC rules requiring pension benefits are set up by this date. The change will affect people planning to [...]]]> http://www.news-insurances.com/%e2%80%98act-now%e2%80%99-%e2%80%93-advisers-reminded-as-pensions-age-change-looms-near/016718040/feed 0 http://www.news-insurances.com/iggy-pop-helps-swiftcover-com-sales-soar-by-a-third/016713895 http://www.news-insurances.com/iggy-pop-helps-swiftcover-com-sales-soar-by-a-third/016713895#comments Fri, 22 Jan 2010 09:40:57 +0000 Barbara karouski http://www.news-insurances.com/?p=13895 Punk icon Iggy Pop has helped online car insurance provider swiftcover.com increase sales by almost a third in the three months since the company launched its ‘Get a Life!’ advertising campaign, fronted by the legendary rocker. Now, following the success of the ads, swiftcover.com has announced that it will also be extending its insurance to [...]]]> http://www.news-insurances.com/iggy-pop-helps-swiftcover-com-sales-soar-by-a-third/016713895/feed 0 http://www.news-insurances.com/government-fulfils-its-pensions-promise-helping-thousands-who-lost-their-savings/016713848 http://www.news-insurances.com/government-fulfils-its-pensions-promise-helping-thousands-who-lost-their-savings/016713848#comments Thu, 21 Jan 2010 14:47:25 +0000 George Stobbart http://www.news-insurances.com/?p=13848 Thousands of people who lost pensions when their employers went bust will get at least 90 per cent of their pensions guaranteed, as the final phase of the Financial  Assistance Scheme (FAS) regulations are put before Parliament.  The Government will pay out £3.5 billion to around 150,000 people. Minister of State for Pensions Angela Eagle [...]]]> http://www.news-insurances.com/government-fulfils-its-pensions-promise-helping-thousands-who-lost-their-savings/016713848/feed 0 http://www.news-insurances.com/free-mobile-calls-for-benefit-and-pension-claimants-starting-from-18-january/016713510 http://www.news-insurances.com/free-mobile-calls-for-benefit-and-pension-claimants-starting-from-18-january/016713510#comments Mon, 18 Jan 2010 10:21:57 +0000 Barbara karouski http://www.news-insurances.com/?p=13510 Free phone calls for most people using their mobiles to claim benefits and pensions are announced by the Department for Work and Pensions today. From next week, six of the biggest mobile phone network companies will no longer charge their customers for calls to the Department’s 0800 Benefit Claim lines. Currently 12% of UK households use only mobile [...]]]> http://www.news-insurances.com/free-mobile-calls-for-benefit-and-pension-claimants-starting-from-18-january/016713510/feed 0 http://www.news-insurances.com/ship-owners-to-face-150m-protection-indemnity-premium-increase/016713227 http://www.news-insurances.com/ship-owners-to-face-150m-protection-indemnity-premium-increase/016713227#comments Wed, 13 Jan 2010 10:58:39 +0000 admin http://www.news-insurances.com/?p=13227 Ship owners are facing a more modest range of general increases – at 4.54% on average – on their protection and indemnity (P&I) premiums at the annual February renewal, as predicted by Aon in its Mid-Term Review (published 20 August 2009). The global insurance broker forecasts that the 2010 round of increases will generate an [...]]]> http://www.news-insurances.com/ship-owners-to-face-150m-protection-indemnity-premium-increase/016713227/feed 0 http://www.news-insurances.com/top-ten-saving-tips-for-2010/016712711 http://www.news-insurances.com/top-ten-saving-tips-for-2010/016712711#comments Wed, 06 Jan 2010 13:44:13 +0000 George Stobbart http://www.news-insurances.com/?p=12711 As 2010 begins, some people could start the New Year as a time to start planning for the retirement they would like.  The long term savings provider believes by setting realistic goals and seeing retirement as an ongoing process rather than an event, people can move closer towards the goal of maintaining their ideal lifestyle [...]]]> http://www.news-insurances.com/top-ten-saving-tips-for-2010/016712711/feed 0 http://www.news-insurances.com/number-of-people-aged-100-and-over-to-double-in-next-10-years-in-the-uk/016712678 http://www.news-insurances.com/number-of-people-aged-100-and-over-to-double-in-next-10-years-in-the-uk/016712678#comments Wed, 06 Jan 2010 08:53:26 +0000 Barbara karouski http://www.news-insurances.com/?p=12678 Next year there will be 12,000 people aged 100 or over in the UK.  In 10 years time this will have nearly doubled to 22,000. In 2010 there are will be around 12 million pensioners in the UK, rising to 16 million by 2050. And the number of people aged 100 or over will increase [...]]]> http://www.news-insurances.com/number-of-people-aged-100-and-over-to-double-in-next-10-years-in-the-uk/016712678/feed 0 http://www.news-insurances.com/the-best-practices-to-protect-you-from-credit-card-fraud/0167447 http://www.news-insurances.com/the-best-practices-to-protect-you-from-credit-card-fraud/0167447#comments Wed, 30 Dec 2009 13:20:42 +0000 Tom Scott http://www.news-insurances.com/?p=447 Many of the best credit cards are becoming those that provide greater customer service, fraud prevention and plain-English terms and conditions. It appears that the UK credit card industry, following the shock to the system of the credit crunch, may well see a restructuring of the markets’ marketing emphasis, with customer service and innovation being [...]]]> http://www.news-insurances.com/the-best-practices-to-protect-you-from-credit-card-fraud/0167447/feed 0 http://www.news-insurances.com/how-to-avoid-new-year-breakdowns/016712177 http://www.news-insurances.com/how-to-avoid-new-year-breakdowns/016712177#comments Tue, 29 Dec 2009 15:33:44 +0000 George Stobbart http://www.news-insurances.com/?p=12177 After an extended holiday period, 4 January 2010 will be one of the busiest days in 2010 for vehicle breakdowns as millions of motorists return to work according to RAC. The severe weather in the eight days prior to Christmas led to RAC attending almost 80,000 breakdowns. Since then many motorists have not used their cars [...]]]> http://www.news-insurances.com/how-to-avoid-new-year-breakdowns/016712177/feed 0 http://www.news-insurances.com/friends-provident-calls-for-level-playing-on-the-corporate-pensions-field/016711505 http://www.news-insurances.com/friends-provident-calls-for-level-playing-on-the-corporate-pensions-field/016711505#comments Thu, 17 Dec 2009 12:31:08 +0000 George Stobbart http://www.news-insurances.com/?p=11505 Friends Provident believes the introduction of consultancy charging in the corporate pensions market is good news for consumers but is calling on the FSA and the DWP to take further action and remove significant differences between occupational and contract-based schemes. The findings outlined in the FSA’s Consultation Paper 09/31 Delivering the Retail Distribution Review published [...]]]> http://www.news-insurances.com/friends-provident-calls-for-level-playing-on-the-corporate-pensions-field/016711505/feed 0 http://www.news-insurances.com/workers%e2%80%99-pensions-rebound-by-103bn-during-2009-2/016711500 http://www.news-insurances.com/workers%e2%80%99-pensions-rebound-by-103bn-during-2009-2/016711500#comments Thu, 17 Dec 2009 12:16:59 +0000 Barbara karouski http://www.news-insurances.com/?p=11500 In news sure to bring a bit of Christmas cheer, the UK’s combined defined contribution (DC) pension savings have rebounded by over £103bn (or more than 25%) since this time last year, according to Aon Consulting. The total value of DC assets stood at nearly £505 billion at the end of November, up £16 billion [...]]]> http://www.news-insurances.com/workers%e2%80%99-pensions-rebound-by-103bn-during-2009-2/016711500/feed 0 http://www.news-insurances.com/debt-before-pensions-but-the-best-of-intentions/016711310 http://www.news-insurances.com/debt-before-pensions-but-the-best-of-intentions/016711310#comments Tue, 15 Dec 2009 15:03:23 +0000 George Stobbart http://www.news-insurances.com/?p=11310 As 2009 draws to a close new research from Friends Provident suggests it’s not all doom and gloom as younger generations set the standard for a healthier financial future. With nearly one third (31%) of 21-29 year olds prioritising paying off debt over saving for a house (25%) or funding a career break (11%), we [...]]]> http://www.news-insurances.com/debt-before-pensions-but-the-best-of-intentions/016711310/feed 0 http://www.news-insurances.com/uk-pension-fund-black-hole-demands-drastic-action/016710629 http://www.news-insurances.com/uk-pension-fund-black-hole-demands-drastic-action/016710629#comments Thu, 03 Dec 2009 13:39:33 +0000 admin http://www.news-insurances.com/?p=10629 It is unlikely that pension scheme deficits will recover without proactive management, according to Aon Consulting. The aggregate pension fund deficit in company accounts for the 200 largest UK privately sponsored pension schemes ballooned again in November from £78 billion to £88 billion. The £88bn deficit would take drastic action to repair. If it were [...]]]> http://www.news-insurances.com/uk-pension-fund-black-hole-demands-drastic-action/016710629/feed 0 http://www.news-insurances.com/retirement-reality-hits-hard-in-uk/016710027 http://www.news-insurances.com/retirement-reality-hits-hard-in-uk/016710027#comments Wed, 25 Nov 2009 15:10:32 +0000 Barbara karouski http://www.news-insurances.com/?p=10027 In the UK today, there are approximately 11.8million people of retirement age. With an average death age of 79[1] , a typical person in retirement can look forward to 16.5 years of relaxation and enjoyment in their later years – or can they? A research led by AXA amongst 1000 UK pensioners [2] uncovers the [...]]]> http://www.news-insurances.com/retirement-reality-hits-hard-in-uk/016710027/feed 0 http://www.news-insurances.com/get-more-from-comparing-pet-insurance/01679682 http://www.news-insurances.com/get-more-from-comparing-pet-insurance/01679682#comments Fri, 20 Nov 2009 11:32:30 +0000 Sofia Ashmore http://www.news-insurances.com/?p=9682 Not-for-profit Insurance might seem like an oxymoron but there are providers out there that operate in this way. People form emotional attachments with many things, but the strongest attachments are often to pets. People also often feel strongly about animal welfare, either because they see the treatment of an animal as a reflection of the [...]]]> http://www.news-insurances.com/get-more-from-comparing-pet-insurance/01679682/feed 0 http://www.news-insurances.com/uk-workers-show-greater-engagement-and-confidence-in-pensions/01679675 http://www.news-insurances.com/uk-workers-show-greater-engagement-and-confidence-in-pensions/01679675#comments Fri, 20 Nov 2009 10:35:54 +0000 Sofia Ashmore http://www.news-insurances.com/?p=9675 The number of people leaving pension schemes has reached its lowest level this year, falling by a third in Q3 compared to Q2, while member enquiries about the current value of their pensions reached its highest level for the year, according to Aon Consulting, the leading employee benefits and risk management firm. Analysis uncovers that [...]]]> http://www.news-insurances.com/uk-workers-show-greater-engagement-and-confidence-in-pensions/01679675/feed 0 http://www.news-insurances.com/the-abi-and-amps-to-launch-a-new-good-practice-guidance-for-self-invested-personal-pension-sipp-providers/01679066 http://www.news-insurances.com/the-abi-and-amps-to-launch-a-new-good-practice-guidance-for-self-invested-personal-pension-sipp-providers/01679066#comments Wed, 18 Nov 2009 06:16:59 +0000 Tom Scott http://www.news-insurances.com/?p=9066 The ABI and AMPS, the Association of Member Directed Pension Schemes, have launched new Good Practice Guidance for Self Invested Personal Pension (SIPP) providers. The guidance gives providers examples of best practice in writing customer and adviser literature, to ensure that the types of SIPP, their features and, importantly, their charging structures are described clearly [...]]]> http://www.news-insurances.com/the-abi-and-amps-to-launch-a-new-good-practice-guidance-for-self-invested-personal-pension-sipp-providers/01679066/feed 0 http://www.news-insurances.com/dc-pensions-drop-18-billion-in-one-month/01679049 http://www.news-insurances.com/dc-pensions-drop-18-billion-in-one-month/01679049#comments Wed, 18 Nov 2009 05:25:17 +0000 Barbara karouski http://www.news-insurances.com/?p=9049 The UK’s combined defined contribution (DC) pension stood at £489 billion at the end of October, down by £18billion from September, according to Aon Consulting, the leading employee risk and benefits management firm. This is the biggest fall since February, and follows a period of rallying DC assets as a result of stock market increases.  [...]]]> http://www.news-insurances.com/dc-pensions-drop-18-billion-in-one-month/01679049/feed 0