The Association of British Insurers (ABI) has reported that its members paid out £650 million in total in dealing with claims arising from the coldest winter in the UK in thirty years.

Policyholders submitted 335,000 claims for damage to their homes, businesses and vehicles, broken down as follows:

Motor insurance – 268,400 claims at a cost of £395 million – many claims were for accidental damage as motorists struggled on slippery roads.

Property damage (homeowners and business custo...

Scottish Provident has reported a four-fold increase in sales of its family income benefit plan, which pays out a regular income to claimants.

The life and pensions provider observes: “As the economic instability remains in the UK the security offered by this kind of product is becoming ever more popular as consumers seek products that are flexible and that suit their long-term needs.”

In addition, the firm claims that family income benefit can be up to 59% cheaper than other types of c...

Electra Partners invested £30m in Peter Wood’s buyout of Esure from Lloyds Banking Group, the private equity firm has confirmed.

Earlier today, Peter Wood, chairman and chief executive of Esure, and the management team of Esure purchased Lloyds Banking Group’s 70% stake in the company for £185m

The Act includes pleural plaques as a condition for which compensation is payable in Scotland, but insurers have argued that the plaques, which are areas of fibrosis present on the inner surface of the ribcage and the diaphragm, do not impact on health or lead to asbestos-related diseases.

Aviva, AXA, RSA and Zurich mounted a legal challenge in ...

The Post Office has decided to spread a bit of Christmas cheer to its home insurance customers by increasing their level of cover during December.

According to the Post Office, the 10% extra cover on contents insurance means people don’t need to worry about the gifts they’re buying for friends and family getting damaged or stolen.

“The last thing you want to have to worry about over Christmas is whether you have enough cover on your home insurance,” said Richard Pennant-Jones, Post ...

A house is built with bricks and mortar, but a home is built with dreams, aspirations and lot of love and care. It is where you live with your family. It is the place you call your own. It is a place that you want to make and decorate like you always wanted to. It is the place that you want to preserve and maintain for years after years. And that is why it is important to have home insurance.

A lot of people, not just in UK, but around the world are realising the importance of getting thei...