What is there to complain about this week?
The knowledge
‘Crash for cash’ insurance scams are “big business in Bradford”, according to a taxi driver interviewed for a report by local MP David Ward. So it’s hardly surprising that the West Yorkshire city has seen premiums increase faster than anywhere else in the UK.
A Brum job
But Birmingham is still top of the pile for ‘crash for cash’ accidents, according to the latest Insurance Fraud Bureau statistics. Meanwhile, Brighton leapt nine places to 16th place in the top 20 rankings, making it the highest new entry.
Pairing to compare
A dream made in broker heaven – not. Online intermediary Simply Business has announced a deal with Moneysupermarket.com, under which it will offer SME insurance service on the comparison site.
Bust up
The number of insurance companies going bust saw a 140% year-on-year increase in July, according to the latest Experian Insolvency Index. It said 36 insurance companies folded in July 2011.
Confidence crash
Catastrophic losses, ongoing soft pricing and regulatory uncertainty has hit confidence in the insurance sector hard. The latest Grant Thornton UK Business Confidence Monitor states that confidence in the insurance, banking and finance sector has fallen to its lowest ebb since the first quarter of 2010.
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