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There have been many accidents in the UK where the victims has been badly injured and the family members are not happy with the compensation received from the insurance providers. The families said that the matter that hurts the most is the method used for calculating the compensation and suggested that it left very little for the victim. Most of them said that compensation was not at par with the family’s expectations and much lower when compared with the treatment expenses and medical bills. To combat this issue, Liz Truss, the Lord Chancellor, would be announcing the result of her review on the applied compensation rates. Experts suggest that the changes in the current rate suggested by Ogden would have a direct effect on the insurance premiums. The change in rates would affect payments made by motor insurance providers and medical bodies like the NHS and the insurers fear an […]

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There have been cases when energy suppliers go bust and leave the customers on the cross roads. To ensure that they benefit from the uninterrupted energy supply, the Department for Business, Energy & Industrial Strategy (BEIS), Ofgem and the Treasury have signed a Memorandum of Understanding (MoU) which dictates the ground rules of how the three will collaborate to resolve the issue of saving customers in case the energy supplier goes bust. This is especially important as such cases are increasing year after year, like the case of GB Energy which collapsed last year. The MoU is signed to make sure that the gas and energy sector remains stable so that the customers and taxpayers do not face issues if any supplier breaks down due to any reason. The Energy Supply Company Administration is designed to sort out things if a large energy company becomes insolvent. In case of such […]

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One of the best things for occasional drivers is that a pay-as-you-go insurance policy will save drivers hundreds of pounds as they don’t have to buy a standard insurance policy. The pay-as-you-go policy is suitable for all those who drive the car on rare occasions and allows them to buy a monthly subscription which can be topped up as and when you drive the extra hours. The UK’s first pay-as-you-go policy was launched by a fresh car insurance app offered by pay-as-you-drive service provider Cuvva. The company says that it keeps the drivers in control of their insurance by charging monthly subscription of £10-£30 and a nominal fee starting with £1.20 an hour as top up charges. The plan also guards the vehicle when it’s not on the roads i.e. when parked in a garage or public parking. The Edinburgh-based insurer said that the insurance is most suitable for young […]

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Courts of England and Wales register more than one million cases of speeding every year. To stop this insane driving behaviour, a new and severe penalty would be introduced from the month of April this year. Precisely speaking, drivers in England and Wales should be ready for much higher penalties from the 24th April 2017. According to the new rules, motorists caught speeding would be penalised with a fine of 150% of their weekly income unlike the existing rule of 100%. The changes made by the district judges and magistrates are due to the consultation in 2016 which discussed that the former guidelines were not enough as far as the speeding rules are concerned. Also, if this kind of behaviour is allowed then it would be a potential risk to the general public and would make way for more accidents. Furthermore, the drivers would be subjected to points or disqualification […]

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UK’s Mobile Operator Three UK is in a spree of expanding business as they purchased the company UK broadband for a cool £250m. It also made a failed attempt to purchase O2 for a whopping £10.25bn but, was stroked by the telecom regulators. However, Three does not seem to budge its plans and instead bought UK broadband, which has around 15,000 customers in the UK. The UK Broadband would be considered as a subsidiary of Three UK and would continue to provide broadband to its customers, albeit it may go through some changes in its policies and the customers would be getting better internet connectivity. Dave Dyson, chief exec of Three UK spoke on their expansion plans and said: “UK Broadband gives us an opportunity to expand our ambition to provide high quality and great value internet connectivity for UK consumers.” Three UK, Hong Kong-based CK Hutchison, has been trying […]

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Storms and snow are a part and parcel of life in the United Kingdom. Every year we face some kind of natural calamity and storms are the most frequent occurrence. However, many home owners are unaware of using their home insurance policy for getting the maximum payouts for storm hit homes. Recently, the UK was hit by the storm Doris and many homes have been flooded with icy waters. This would not just cost you huge heating bills as an aftermath but, also cost thousands of pounds for repairing the damage caused to the building and its contents. Experts suggest that the normal cost of storm damage would be around £905 and at least one in ten Britons would make a claim due to the vast damage Doris has made in some areas of the UK. The damage could be anything starting from the outer wall damage to bursting water […]

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