Report from UK:
Although many people are having to cope with uncertain economic conditions, households have been advised not to cut their car or home insurance in order to save money.
Defaqto urged consumers not to cancel their insurance policies "without giving it serious thought".
"Car insurance is required by law, and home insurance is vital to protect your house and belongings," the firm stated.
In order to find the best car and home insurance deals, people ought to consider using online aggregators to "shop around".
However, it is important that consumers are aware of what level of cover their new policy provides, it added.
Graeme Trudgill, technical and corporate affairs executive at the British Insurance Brokers' Association, recently advised motorists not to accept it when they car insurance provider increases the price of their premiums.
Friday, September 19, 2008
The Future For American Home
American Home Assurance Company, which writes property risk and casualty insurance in the Jamaican market, is awaiting a pronouncement of its long-term future following this week's near collapse of its parent, American Insurance Group (AIG).
AIG, caught in America's sub-prime mortgage crisis, was pulled back from the brink on Monday with a $40 billion bail-out package from the US central bank, the Federal Reserve.
The development has placed question marks over the future of AIG's small subsidiaries, like the one in Jamaica.
"I am awaiting directives (from the parent group) before I can say anything to the press," said American Home's general manager, Earl Codling.
AIG, caught in America's sub-prime mortgage crisis, was pulled back from the brink on Monday with a $40 billion bail-out package from the US central bank, the Federal Reserve.
The development has placed question marks over the future of AIG's small subsidiaries, like the one in Jamaica.
"I am awaiting directives (from the parent group) before I can say anything to the press," said American Home's general manager, Earl Codling.
Are Sports Injuries Subject To Home Insurance?
Here's a report from the UK:
A home insurance warning has been issued by a provider, after new figures revealed that liability claims for sports injuries are increasing.
According to Esure, more policies were being claimed on through personal liability for sport injuries. Personal liability is usually included with home contents policies, although it has remained unused.
Esure have issued the warning as there is potentially a large financial cost of being hit with such a case, and not having insurance can become very complex..
A spokesperson for Esure stated: “Fire, flood, theft and accidental damage are the perils that most people see themselves using their home contents insurance for - but personal liability cover can be a life saver for anyone claimed against. Although it is one of the rarest, it is also the most serious types of claim.”
A home insurance warning has been issued by a provider, after new figures revealed that liability claims for sports injuries are increasing.
According to Esure, more policies were being claimed on through personal liability for sport injuries. Personal liability is usually included with home contents policies, although it has remained unused.
Esure have issued the warning as there is potentially a large financial cost of being hit with such a case, and not having insurance can become very complex..
A spokesperson for Esure stated: “Fire, flood, theft and accidental damage are the perils that most people see themselves using their home contents insurance for - but personal liability cover can be a life saver for anyone claimed against. Although it is one of the rarest, it is also the most serious types of claim.”
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