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Aon says healthcare insurance inflation running at six per cent

Private Medical Insurance inflation is running at six per cent according to the latest survey by Aon Consulting.

The healthcare intermediary surveyed 875 companies covering 315,000 insured members.

It found that most common single premium rate ranges between £251 and £300 a year.

The survey shows that the market is dominated by two companies PPP Healthcare and BUPA with 35 and 34 per cent of the market respectively.

The number of people expecting NHS services to deteriorate has increased to 24 per cent from 9 per cent in 1997.

It also found 46 per cent of firms use advisers to negotiate premiums of which 70 per cent choose not to disclose income or commission.

Aon believes that regulation may be appropriate in this sector.


Household Mortgage Corporation cuts rates

The Household Mortgage Corporation is lowering the interest rate on its standard and self-certified fixed-rate mortgage schemes for a limited period.The standard scheme with loans up to 95 per cent of the purchase price will be 6.75 per cent and the new rate for the self-certified scheme will be 7.25 per cent.Both rates will be […]

BIIBA in Millennium Bug warning to brokers

Over 1,000 brokers may be unable to trade at the turn of the Millennium because software providers have failed to make computer systems Year 2000 compliant.A survey by the British Insurance & Investment Brokers&#39 Association shows many brokers are still using non-compliant software which could leave them unable to trade and process quotes.Computer experts believe […]

Woolwich starts ISA publicity blitz

Woolwich has started a publicity blitz to herald its range of individual savings accounts due for launch in April.The bank says it wants to develop a consumer brand that is simple and appealing for the man on the street as well as the serious investor.It will also offer an on-line ISA facility which allows consumers […]

Scottish Life appoints two new senior managers

Scottish Life is making two new appointments to its senior executive team.John Wallace will become general manager of customer services and David Hughson general manager of investment.Wallace joined Scottish Life&#39s systems division in 1967 before becoming assistant general manager of administration in 1994.Hughson joined in 1981 and became chief investment manager in 1996.Both appointments are […]


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