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Fraud pushes up insurance bills by £1 a week

Fraudsters are pushing the cost of the average household insurance policy up by almost £1 a week, according to a survey by the Association of British Insurers.

The association estimates the cost of fraud was up 8 per cent to £645m for 1998 from £597m last year. As a percentage of premiums fraud increased to 3.7 per cent in 1998 from 3.6 per cent last year.


Interactive Investor aims to be sole provider of online share trading for IFAs

Interactive Investor is planning an expansion backed by £8m of venture capital to make it the sole provider of electronic share trading for all IFAs and stockbrokers by next summer.The company believes that it can steal a march over other on-line rivals as the only company offering such a service.It is currently running a pilot […]

PIA Consumer Panel wants mortgages directly regulated

The PIA consumer panel has warned the Government that it is making a mistake by not including mortgage regulation in the draft Financial Services and Markets Bill.The panel says that the complexity and range of mortgages available makes it easy for product providers to missell.It says that because mortgages are the biggest purchases consumers ever […]

Sedgwick Noble Lowndes name to go in new year

The Sedgwick Noble Lowndes name is set to disappear from January 1 as the firm is merged into William M Mercer. The move follows the takeover of Sedgwick Group by Marsh & McLennan, Mercer&#39s parent company, in August. Mercer&#39s UK chairman and chief executive David Barford will assume responsibility for UK operations. Sedgwick Noble Lowndes […]

GRE buys the software for next year&#39s GPP launch

Guardian Employee Benefits is investing £1.5m in a software package from Watson Wyatt to upgrade its administration system for its planned Group Personal Pension Plan.Managing director Ray Milne says: &#34The attraction of the Watson Wyatt PMS6000 system is that it is flexible enough to allow us to deliver our unique product solution to the GPP […]


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