Category Archives: Insurance

Insurance

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M&S Money Urges Householders To Secure Their Sheds

A new survey by M&S Money* has revealed that the average shed now holds £988 worth of contents – an increase of £100 from the 2009 figure**.

The most expensive items that people keep in their sheds are lawnmowers (38%), bikes (28%) and DIY equipment/tools (22%). However, the survey found that almost half of people questioned (49%) admitted they leave their shed unlocked at times. This figure has doubled in the past year, from just under a quarter (24%) in 2009.

Almost a fifth (18%) of respondents in this year’s survey revealed they frequently leave their shed unlocked and, only 12% of respondents felt that their shed was very secure against burglary and would deter thieves.

M&S Money is urging householders to check that their home insurance policy covers items in their shed. M&S Home Insurance policy provides unlimited cover for theft of property from a shed. Policyholders must take reasonable steps to ensure they have secured their shed.

Andrew Ferguson, M&S Head of General Insurance, said: “The value of items kept in sheds can mount up, as our survey shows. We would urge householders to check whether their home insurance policy provides adequate cover for theft from a shed, and what security measures they may need to demonstrate to ensure any claims made are valid.”

Via EPR Network
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Vetfone Prepares For Summertime Calls

Vetfone, an animal advice helpline available to M&S Pet Insurance customers, is preparing for its busiest times of the year and getting ready to deal with calls from dog owners whose pets have been injured or become ill because of summertime hazards.

Vetfone Prepares For Summertime Calls

In previous year’s Vetfone’s qualified veterinary nurses, who provide concerned animal lovers with immediate advice on a pet’s condition, have reported a large increase in the number of calls from policyholders whose dogs have succumbed to various summer related hazards. The service provided by the advice line is especially important and has often proved invaluable for M&S Pet Insurance customers, with around 70% of calls being made outside of normal veterinary hours.

The summer months can prove to be especially dangerous to pets for a number of reasons, as the barbeque season really gets underway and the sunny encourages owners to get outside and play with their dogs more frequently, not to mention the risks of pets ingesting new seasonal objects they shouldn’t, such as poisonous berries or fallen nuts.

Vetfone deputy operations manager, Clare Scantlebury, said: “It’s lovely for pets and their owners to enjoy being out and about during the summer, but they need to be aware of hidden dangers, which although rare, do cause real problems.”

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M&S Money Finds Brits Stick To What They Know And Love

M&S Money has found in its latest survey that once trust has been earned by a service provider, whether they are a dentist through to a shop keeper, loyal Brits will keep returning time and time again. On average, Brits’ relationships with their favourite shops and people do stand the test of time, according to new research by M&S Money to mark the company’s 25th anniversary.

M&S Money Finds Brits Stick To What They Know And Love

The results of the survey showed that people have firm favourites among their shopkeepers and other professionals, with over 3.4 million having remained loyal to their favourites for 20 years or more. Six out of 10 said that good customer service is the main reason they have continued to stay loyal to a person or business and over half cite reliability and good value for money.

Colin Kersley, chief executive of M&S Money, said: “Consumers will evidently stick with businesses and people who deliver great service and look after their customers. Most people can name someone they trust completely, whether cutting their hair, managing their money, decorating their house or fixing their car.

“People clearly feel strongly about good customer service, reliability and trustworthiness as these are reasons why they stay loyal for so long. After 25 years in business, M&S Money has stood the test of time and we know how important it is to continue earning the loyalty of our customers.”

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LV Reports Holidaymakers Ignoring Vital Vaccinations

LV= has reported that holidaymakers are putting themselves at risk of serious illness by not having recommended travel vaccinations, as GPs report a rise in the cost of jabs.

According to travel insurer LV=, more than a quarter (26%) of holidaymakers travelling in the past 12 months went without the recommended vaccinations for illnesses such as Hepatitis A, Typhoid and Diphtheria.

The LV= report found that most of the holidaymakers who didn’t have jabs (19%) simply didn’t bother to seek medical advice and so were unaware of the health risks they could potentially face and one in fifteen (7%) actually ignored medical advice to be vaccinated.

The research found that cost is contributing to holidaymakers’ reticence to have the appropriate vaccinations, with more than one in ten (12%) who didn’t have vaccinations doing so for financial reasons. As part of the LV= report, GP practices were also questioned about their vaccination prices and close to half (43%) reported a rise in the cost of vaccinations over the past five years. The cost of Malaria tablets has increased most steeply, increasing by more than 11%.

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The Children’s Mutual Reveals Dads Are Number One Hero For Kids

The Children’s Mutual has revealed that Dads, and not footballers or pop stars, are the number one hero for kids aged between five and seven for the second year running.

The annual UK poll by The Children’s Mutual has revealed that although Dads have topped the list of heroes, mums will be disappointed as they have fallen from the number two spot last year, to number three in 2010.

However if Dads want to top the list again next year, they can’t afford to rest on their laurels just yet. They face strong competition from fictional characters such as Ben 10, Spiderman and Hannah Montana. Interestingly, there are four new entries in the top 10 this year, with teachers coming in at number five, the ever-popular Cheryl Cole at number six and Granddad at number nine. Those to fall out of favour in 2010’s top 10 include Gabriella from High School Musical, Power Rangers, Dora the Explorer and Sporticus.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “Since last year, Dads have continued to inspire their children and have held on to the top spot to be their number one hero. Dads have beaten off stiff competition from great fictional characters such as Doctor Who and Ben 10 which is a huge achievement.”

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Boots Covers Volcanic Ash Claims

Boots Travel Insurance has announced that it is covering claims resulting from the closure of airspace due to volcanic ash. Boots Travel Insurance will not invoke any exclusion relating to “closure of airspace by the CAA” and all the conditions and exclusions in the customer’s policy will remain unchanged.

Boots Covers Volcanic Ash Claims

For those policyholders waiting to go on holiday, it means that they may be able to recover the costs of their trips or journeys that would not otherwise be recoverable from another source such as the airlines, tour operators or hotels.

The same stipulations apply for those are who are left stranded abroad. Boots Travel Insurance revealed that travellers left stranded may be reimbursed a travel delay benefit which is designed to contribute towards additional costs incurred such as accommodation, depending on the length of the delay.

Boots Travel Insurance volcanic ash assures travellers visiting locations both in Europe and worldwide that they are covered in the result of any delay. However, this is only if the flight has been delayed for 12 hours or more.

Boots offers three separate cover areas; bronze, silver and gold. The bronze cover offers £20 for the first 12 hours and £10 for each extra 12 hour period the customer is delayed while the silver cover offers reimbursement of £30 for the first 12 hours and £25 for each additional 12 hour period of delay. The gold cover offers £40 for the first 12 hours and £25 for each extra delay of 12 hours.

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M&S Insurance Scoops Industry Awards

M&S Money has been named ‘most trusted motor insurance provider’ and ‘best travel insurance provider for service’ at the 2010 Moneywise Customer Service Awards.

M&S Insurance Scoops Industry Awards

The award winners results follow the largest dedicated customer service survey held in the UK and were presented in front of 270 guests and industry leaders at a black-tie gala in the City of London. From January to March 2010 more than 10,000 responses were received via Moneywise magazine and Moneywise.co.uk which were then carefully analysed by CoreData Research. This information was used to identify those companies, which offer the best service and those, which are most trusted to provide these services, according to the British public.

M&S Money was also highly commended in the ‘most trusted travel insurance provider’ and ‘best motor insurance provider for service’ categories.

Colin Kersley, M&S Money Chief Executive, said: “All our insurance policies are designed with the M&S customer in mind, and we are delighted that M&S Car and Travel Insurance have been recognised at the Moneywise awards.”

M&S Premier Car Insurance protects the policy holder, not just their car, and includes RAC breakdown cover, motor legal protection and a hire car for up to 14 days (breakdown cover provided by RAC for M&S customers and is not available directly from RAC.co.uk).

M&S Money travel insurance offers single trip or annual multi-trip cover. The independent traveller section of the policy* helps customers who choose to travel independently and may not benefit from the protection provided via a package tour. This year M&S Money helped travel insurance customers who were affected by the volcanic ash which grounded flights.

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M&S Money Credit Card Scoops Industry Award

M&S Money has won the 2010 Moneyfacts award for Best Card Provider (Introductory Rate). The awards were announced at the Millennium Hotel, Mayfair, London in front of 300 industry professionals from leading financial institutions who had gathered for the special luncheon which was hosted by ITV News’ Economics Editor, Daisy McAndrew.

M&S Money Credit Card Scoops Industry Award

The awards were presented to those companies that have consistently offered the most competitive products, the best levels of service and shown the greatest innovation in the personal finance world during the last twelve months.

The M&S Credit Card offers:
– 0% interest on all shopping for ten months from account opening
– 0% interest for six months on balance transfers made within six months of account opening (2.9% fee, minimum £5)
– No cash advance fee & 55 days interest free when buying M&S Travel Money with the card
– M&S points earned every time the card is used, with regular bonus offers of extra points on purchases at M&S
– 15.9% APR typical variable. Actual rate received will depend on an individual assessment of circumstances.

Colin Kersley, M&S Money Chief Executive, said: “We are delighted that the M&S credit card has been recognised at the Moneyfacts awards. The card not only has a competitive APR but also 10 months at 0% interest on shopping, making it one of the most attractive credit cards in the market.”

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LV= Discovers Wealthy Young Brits Make Easy Target For Thieves

Research from LV= Streetwise has revealed that many young brits are making themselves easy targets for thieves as 92% of 13-15 year olds carry a mobile phone on them whilst out and about with their friends, 74% carry cash and 42% leave the house with an iPod.

The clothes and gadgets carried by the average young teen on Britain’s streets are worth £246*, singling them out as targets for thieves, while 21% of 5-8 year olds carry a mobile phone** and 17% carry cash when they’re out and about with friends.

Many young people carry valuable items like a mobile phone because their parents want to keep them safe. Among 5-15 year olds, as many as 62% said their parents ask them to keep a mobile phone with them. But mums’ and dads’ attempts to protect their children when they’re out on their own may be inadvertently increasing the risk of theft, as 11-16 years olds make up a third of all mugging victims***.

Furthermore, by focusing their concerns on outside threats such as stranger danger, parents could be blinkered with regard to their children’s safety knowledge in and around the home. The LV= Streetwise research shows that 38% of 5-15 year olds would not know how to leave the house safely in the event of a fire, and 15% don’t feel they are able to cross the road safely.

The LV= Streetwise research findings also reveal parental confusion over when it’s right to give their children more independence. 49% of parents**** said they are so unsure about what is the right age to allow certain freedoms to their kids, that they make up the rules as they go along.

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The Children’s Mutual Reveals Cost Of Top Career Aspirations Set To Soar

The Children’s Mutual, the leading Child Trust Fund provider, has revealed new research* that suggests parents could be facing a bill in excess of £100,000 if their children grow up to fulfil their career ambitions.

The annual ‘What I Want to Be’ poll revealed that among five, six and seven year-olds, becoming a teacher, doctor or vet are the jobs of choice. The Children’s Mutual warned parents to start saving now as the latter two could cost £116,000 and £117,000 respectively in 18 years time.

Tony Anderson, Marketing Director of The Children’s Mutual, said: “Parents tell us their young children are highly ambitious and that they, as parents, fully intend to help them fund their futures. But the sums of money the top careers command could cause financial nightmares for families who don’t plan ahead. While the Coalition Government has announced its plan to significantly reduce payments into Child Trust Funds from 1 August 2010 and to abolish the scheme altogether for new babies born from 1 January 2011, the reality is that the cost of children’s futures hasn’t changed. We believe that the only way for parents to financially manage these costs is by saving regularly over the long term and are urging them to continue doing so.”

The Children’s Mutual questioned over a thousand parents about what their children said they wanted to be when they grew up and found that the majority of today’s children are looking for a career which requires further training and education. The top careers of doctor, teacher and vet have featured in the ‘What I Want to Be’ poll for the last three years, demonstrating that children consistently aspire to careers that will need higher education.

According to The Children’s Mutual, 93% of parents of today’s young adults are still funding their children, and the expert in long-term savings for children does not anticipate this changing. The Children’s Mutual is urging parents to continue saving regularly over the long term rather than having to face finding such large sums of money in the future.

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M&S Money Warns England Fans To Take Care When Flying The Flag

M&S Car insurance has announced that according to a new survey over a fifth (22%) of England fans will add a St. George flag to the family car this month to show their support for the England team whilst they play out in South Africa for the World Cup.

M&S Money Warns England Fans To Take Care When Flying The Flag

In the period leading up to the England team, captained by Steven Gerrard and led by manager Fabio Capello, played their first match against the USA on 12th of June, the survey revealed that almost as many women as men were planning on adding the flag to their car. This was 21% of women compared to 24% of men.

As a result of the survey findings which also revealed that 56% of those who are planning on placing a flag on their car will be attaching it to the antennae and 17% will place it by the passenger side wing mirror, and only 13% will be placing the flag in the front widescreen, M&S Car Insurance is advising motorists to put safety first and think carefully about where they position the flag on their vehicle. Worryingly, only 43% of the respondents stated that they believed that flags can be a distraction depending upon where they are placed.

Andrew Ferguson, M&S Head of General Insurance, said: -“Many motorists and their families will be keen to demonstrate their support for England by placing a flag on their car. While it can be a popular way for fans to show their support, we are asking motorists to be aware of the safety issues to ensure they avoid any unnecessary accidents on the road.-“

About M&S Money:
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc, making 2010 the company-‘s 25th anniversary.

The company is a top-ten credit card provider and the second-largest travel currencyretailer in the UK. M&S Money also offers a range of insurance cover, including home insurance and car insurance, as well as loans, savings and investment products.

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LV Launches Innovative Recruitment Advertising Campaign

LV=, the insurance, investment and pensions group, has announced the launch of a ground-breaking recruitment advertising campaign. The campaign uses unique technology that enables jobseekers to interact with existing LV= staff and find out about the jobs on offer before even applying.

The poster and taxi campaign includes five different poster designs each featuring a different LV= employee who has their own story to tell. The campaign invites jobseekers to take a photo of the poster with their mobile phone and send the image to LV= via MMS or email, using short code 67777 and adding the keyword ‘LV’. Using image recognition software, LV= will then identify which employee was on the poster, and make a pre-recorded call to the jobseeker in which that actual employee says what they do at LV= and what it’s like to work there.

The campaign features imagery around LV=’s iconic green heart and uses a wide range of media including online, social media, outdoor and the innovative poster and taxi campaign. The innovation is continued on LV Careers where jobseekers can interact with existing staff as well as hear from Mike Rogers, group chief executive and apply for jobs online.

There is also a charitable element to the campaign, as for every text received through the campaign LV= will donate 10p to its nominated charity, Great Ormond Street Hospital.

LV= is currently recruiting for staff in many of its 28 offices across the UK. Locations of particular focus include its head office in Bournemouth plus LV= offices in Bristol, Croydon and Huddersfield. The majority of jobs on offer are within LV=’s general insurance division.

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LVAM To Be Offered By Verbatim

LV= Asset Management (LVAM), the fund management arm of mutual insurance and investment group LV=, has reached an agreement to offer the LV= Managed Portfolio fund range via Verbatim Asset Management, the investment firm launched by The SimplyBiz Group in February 2010.

LV= Managed Portfolios are global, unfettered, multi manager funds that are managed to reflect client risk profiles 4 to 7 within Dynamic Planner, the leading client risk profiling tool used by some 18,000 advisers in the UK. Verbatim is offering SimplyBiz Member Firms and Compliance First Clients use of its own risk a s s e s s m e n t tool – powered by Dynamic Planner – to better match product solutions to clients’ risk profiles completely free of charge.

Verbatim offers member firms a compliant and robust process that stretches f r o m the a s s e s s m e n t of client needs, through the determination of the right investment mix to meet those needs, and the selection of high quality products appropriate to the client’s a s s e t allocation. Clients will benefit f r o m suitable product matching, while advisers can be confident that TCF and RDR considerations will have been addressed.

About LV=
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies. LV= offer a range of insurance products including home insurance policies, motor insurance, life insurance, pet insurance and 50 plus life cover.

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The Children’s Mutual Finds Parents Of Younger Children Being Warned To Start Saving

According to research by The Children’s Mutual, a leading Child Trust Fund provider, parents of 18 to 30-year-olds are warning families of younger children to start saving now to fund the future, with nearly a 28% saying that they have either remortgaged or are planning to remortgage to fund their child’s adulthood. The research also revealed that many parents of adult children said that if they had their time again they would have saved more.

The Children's Mutual Finds Parents Of Younger Children Being Warned To Start Saving

As the coalition Government threatens to cut the Child Trust Fund (CTF), The Children’s Mutual is urging parents whose children are eligible for the accounts to make the most of them while they can.

David White, Chief Executive of The Children’s Mutual, said: “Saving for your child is a ‘necessity’ not a ‘nice-to-have’. Parents of today’s 18 to 30-year-olds are having to find an average of £30,000 to fund their adult children the hard way – by remortgaging or borrowing further. We believe the only way that most families will be able to help fund children to fulfil their potential going forward is by saving regularly over the long term.”

Parents of CTF holding children should not be disheartened or confused by the coalition’s proposal. The Government has confirmed that for existing customers, the accounts will remain as they are; meaning that the families of the five million CTF holding children across the UK can continue to save up to £1,200 a year tax efficiently to help give their child a much needed springboard into adulthood.

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The Children’s Mutual Reports Saving For Children Is Still Crucial

The Children’s Mutual, a leading Child Trust Fund provider, reports that saving for children is crucial and urges the 5 million families whose children hold Child Trust Fund (CTF) accounts to continue saving for their children into CTFs.

The Children's Mutual Reports Saving For Children Is Still Crucial

David White, Chief Executive of The Children’s Mutual, said: “The CTF has changed the nation’s savings habits and we congratulate families across the UK for recognising the critical importance of saving for their children’s futures.”

According to The Children’s Mutual, today’s parents are paying out an average of£30,000 to fund their children between the ages of 18 to 30 and these costs are only expected to rise for families of tomorrow.

The Children’s Mutual urges families to not be disheartened by the Government’s announcement to stop all payments to Child Trust Funds by January 2011, but to continue to help their children fulfil their future potential by saving regularly over the long term. CTF holding children now have a unique asset that others will not.

The Children’s Mutual also revealed that the Child Trust Fund is the single most successful savings policy to date and that this sort of short term cut does not address the pressing need for families to save or recognise the significant benefit to society that the CTF will bring from 2020 as maturing funds return an anticipated £2.96bn each year to the economy.

David White continued: “We also reassure our current and existing customers that having been in existence for the last 129 years, we have been providing long-term savings accounts for children and helping support families throughout our history. We are committed to continuing to do so in the future.”

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings vehicle for all eligible children. Newborn children (born on or after 1 September 2002) received a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents registered for Child Benefit. The government then makes a second contribution of £250 (£500 for low income families) when the child reaches seven. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The proposed changes to the CTF will mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without government’s additional contributions from 1 August 2010.

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LV= Announces Improvements To Its Protection Range

LV= has announced that it has improved its term rates for higher sums assured, re-priced its FPP Term Assurance, Family Income Benefit and Gift Inter Vivos products, as well as cut prices on its accident and sickness cover under its Mortgage & Lifestyle Protection product.

The changes to the term rates for higher sums assured, typically between £150,000 and £300,000, come soon after LV= re-priced its critical illness cover, meaning LV= is now leading the way on price for many term assurance contracts.

Mark Jones, head of protection at LV=, said: “These improvements will help us offer customers a combination of great experience, proven ability and competitive prices. We make no bones of the fact we are keen to expand our customer base for term assurance, especially at the higher sums assured end of the market.”

LV= has also improved all of its accident and sickness rates for lower risk occupations under its award winning Mortgage & Lifestyle protection product.

Mark Jones concluded: “The re-pricing of our accident and sickness rates within our Mortgage & Lifestyle Protection product for lower risk occupations is a clear demonstration of our strategy for marrying competitive pricing with market leading product innovation. We are very pleased to be able to reduce all of these premiums, as this further enhances an already top class proposition for mortgage advisers.”

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International Figures Show UK Lagging When It Comes To Child Mortality Rate, Prompting Concern From Life Insurance Comparison Site Quoteboffin.co.uk

New research has shown that the UK has the highest child mortality rate in Western Europe. With a rate of 5.3 infant deaths per 1,000 live births, the UK is falling behind other rich countries when it comes to cutting the number of child mortalities.

International Figures Show UK Lagging When It Comes To Child Mortality Rate, Prompting Concern From Life Insurance Comparison Site Quoteboffin.co.uk

International figures have revealed that child death in the UK, along with the USA, New Zealand and South Korea, has not reduced the number of child deaths as quickly as expected.

The figures, from a team at the University of Washington in Seattle, have prompted life insurance comparison site Quoteboffin.co.uk to speak out about its concerns. A spokesperson for the company explained:

“It is extremely concerning to see that the UK is lagging behind its counterparts. As one of the most developed countries in the world, it seems shocking to think that we are not able to quickly and significantly cut the number of child mortalities.

“To receive this information at a time when the NHS is at the focus of attention makes us hope that ensuring everyone gets the care they need is at the top of the agenda for ministers.”

The UK’s mortality rate saw the country fall from 10th in the global chart to the 33rd and the research also found that the decline in deaths in the under fives is reducing more quickly in poorer countries, according to The Lancet.

However, the BBC reports that the global child mortality rate has dropped from 11·9 million deaths in 1990 to an estimated 7·7 million deaths in 2010 in children under five. While the UK has continued to reduce mortality rates, by three quarters since 1970, a large number of other European countries have overtaken it.

A spokesperson for the Department of Health highlighted the fact that infant mortality is at the lowest rate ever in the UK, but there are still calls for the country to have a close look at neonatal and child care.

Life insurance comparison site Quoteboffin.co.uk is among those calling for increased efforts in the coming years. It said: “While the number of deaths does continue to fall, we believe is it not falling fast enough and would like to see assurances that money will continue to go towards research and medical care for threats to the health of infants.

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LV = Recruiting For Over 300 Staff

LV=, insurance and investment group, has announced it is currently recruiting for over 300 jobs. The jobs being recruited for will be based in locations around the UK including in Bournemouth, London, Huddersfield, Hitchin and Bristol.

LV = Recruiting For Over 300 Staff

LV= offers a wide range of financial products and services including life insurance, protection, home insurance, investments, car insurance, pensions and retirement solutions, pet insurance, travel insurance and commercial general insurance products.

Many of the roles will be based in the company’s general insurance division and include positions in sales, customer services, claims and technical management. Other roles currently on offer are within various head office functions including marketing, ecommerce, finance and human resources.

The company has undergone a transformation since 2007 when a new board led by CEO Mike Rogers, was appointed. As well as a new brand image, the company has opened new offices around the UK and made a number of corporate acquisitions including Highway Insurance and the former GE Life business ‘Tomorrow’.

David Smith, HR director of LV=, said: “LV= is going through a period of significant growth so it’s a very exciting time to join us. Our general insurance operation is a particular hotspot for growth and we are looking for people both with experience in this field but also for individuals who are looking to move into this sector from other careers. When many other financial companies are making cut-backs we are actually expanding so this not only means that there is the opportunity to join us but also lots of great career prospects.”

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LV= Announces Income Protection Enhancements

LV=, protection and retirement specialist, has announced that it has made enhancements to its income protection policy, resulting in another coveted Defaqto 5 Star Rating.

LV=’s income protection policy (which forms part of the protection menu, the Flexible Protection Plan) now includes Guaranteed Increase Options, which means policyholders can increase their cover without any medical or financial underwriting if they:
– Increase their mortgage
– Get married or register a civil partnership
– Have or adopt a child
– Have an increase in basic salary as a result of promotion, changing employer or gaining qualifications.

The policy now also includes Back to Work Support, meaning LV= may provide financial support and advice to help policyholders return to work with confidence.

Plus, LV= has added a Career Break Option where policyholders will be covered (for up to a maximum of £1,500 a month) if they decide to take a break from work. If they then return to the same job within 24 months they’ll be able to go back to their original amount of cover and premium without the need for any medical questions (provided they haven’t made a claim during this period).

Mark Jones, LV= head of protection, said: “These new enhancements further improve our already strong income protection proposition, and will help advisers offer greater flexibility and support to their clients.

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