Interesting insurance stories hitting the headlines

Van drivers are feeling the financial pinch

Van drivers are having a bumpy ride at the moment with councils moving to curb diesel emissions and insurance costs going through the roof. A report by Consumer Intelligence has revealed that van insurance is at a record high and now costs two and a half times as much as car insurance. Premiums have shot up by 29.5% in just 12 months and now average policies cost an eye-watering £1636.

Much of the blame for the spiralling costs is being pinned-on legislative changes to the way compensation claims are calculated and rises in Insurance Premium Tax. At Quoteline Direct we’re doing our bit to help the nation’s fleet of van drivers stay on the road by guaranteeing to beat your current insurer’s renewal premium by at least 10% and hopefully a whole lot more (based on the same details with similar cover).

Travel insurance isn’t just for overseas holidaymakers

With Sterling struggling against the Euro we are taking more holidays closer to home and making the most of the British countryside. Staycations are the new vacations, but just because you aren’t going overseas; doesn’t mean you don’t need travel insurance. One leading insurer has been polling their customers and found that half didn’t have ‘away from home’ cover included in their house insurance and only one in ten would consider taking-out travel insurance for a break in the UK. Given that the average Brit travels with nearly £700 worth of valuables; that’s a lot of unnecessary risk which could ruin a holiday.

Following your friends can be dangerous

It may sound like a publication from the “university of the blooming obvious” but it’s based on real research carried out by real scientists writing for Frontiers in Psychology. The study found that motorists following a friend’s car were more likely to drive dangerously so they don’t get lost. In a bid to keep-up they tended to take more risks such as speeding, tailgating and turning erratically. The study was carried out in response to a real-life accident caused while ‘following a friend’ and was designed to put some solid research behind the intuitive idea that’s it’s more dangerous. The results showed using a satnav to find your own way was statistically much safer.

Ransomware attacks increase take-up of cyber insurance

Cyber risk insurance is a relatively new product; but it’s fast becoming a business basic. As companies clean-up the mess caused by the recent spate of ransomware attacks it’s hardly surprising that enquiries for cyber insurance are at an all-time high. Lloyds of London recently calculated that a global cyber-attack could cost the economy over £100billion. Small businesses are just as vulnerable as large corporations and nearly half of the country’s SMEs have identified a cyber security breach in the past 12 months. A recent report has highlighted SMEs three key cyber concerns as: theft of funds, disabled systems disrupting business and reputational damage. Despite the ever-increasing risks, only half of the small businesses polled had prepared an emergency response plan, although it’s only a matter of time until cyber contingency planning becomes business best practice.

 


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