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ABI crackdown on fraud

The Association of British Insurers&#39 move to crackdown on industry fraud has received the public&#39s backing, according to a recent report.

From an independent survey of 1,000 people 88 per cent supported the insurance industry&#39s toughened stance on fraud. The ABI also reports it has received 1,500 calls to its cheatline since its launch in April 1999.

ABI deputy director general Tony Baker says: “People recognise insurance fraud is not a victimless crime and honest policy holders suffer through increased premiums.

“We are very encouraged industry initiatives to tackle the problem and raise public awareness are beginning to pay dividends.”


FSA puts pensions review for transfers on hold

The FSA is suspending pension review phase two transfer cases to amend its guidance which could lumber outraged IFAs with massively increased redress bills.The regulator says the forecasted long term drop in interest rates has forced it to change the way loss is calculated in phase 2 transfer cases and could result in a 5 […]

Skipton and Chelsea carpetbagging busters

Skipton and Chelsea Building Society&#39s are dashing the hopes of “blundering” carpetbaggers by claiming their resolutions don&#39t call for the end of mutuality.Both societies are saying there is “no prospect” of them deciding to convert following an invitation to the boards to “consider taking steps to change the independent mutual status of the society” rather […]

BoE rejects interest rate hike for the South

Bank of England governor Eddie George has rejected a suggestion to raise interest rates to slow down the booming economy in the south of England.George says any moves to protect particular regions or sectors of the economy, suggested by digruntled businessmen, could jeopardise the economy.The Monetary Policy committee has raised interest rates twice in recent […]

&#39Stupid&#39 error forces Northern Rock compensation

Thousands of Northern Rock members affected by a “stupid manual error” are to receive compensation.Around 200,000 borrowers had their mortgage payments debited a week early at a cost of about 25p per account.The affected will receive this amount plus any bank charges incurred as a result of being unexpectedly overdrawn.Northern Rock PR manager Ron Stout […]

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]


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