Auto insurance benefits with fuel reduction

Drivers wanting to save money on fuel now that tax on the commodity has gone up can take steps which will also help reduce car insurance premiums, according to one website.

As well as reducing the amount spent on fuel now that tax on the commodity has been increased, financial website Beatthatquote.com has revealed that certain tactics can also bring down auto insurance premiums.

Writing for MSN Money, Laura Starkey from the site said that with August 31st seeing fuel prices rise 2.3 pence per litre, motorists will be looking to cut down on the costs of driving, including auto insurance.

Ms Starkey advised drivers to reduce the amount the use their car – this will lead to using less petrol and also decreasing the amount of time spent on the road and the chance of damaging the vehicle.

She explained: "Agreeing to drive a set maximum mileage is unlikely to suit everyone, but could be a particularly useful tip for two-car families who have one vehicle that is used far less frequently than the other.

"If you are already driving limited distances in your car, ensure your insurance company is aware of this so it can price your policy accordingly," she added.

Increasing the vehicle's efficiency and checking out all the petrol stations in the area to find the best price will also help to reduce auto insurance premiums and cut the costs of paying for fuel, according to the expert.

Motorists in the UK are already finding ways to reduce the costs of driving without having to change their auto insurance policies, according to one firm.

Ibuyeco recently conducted a survey which found that 46 per cent of drivers have altered their technique when on the road, such as accelerating and braking more gently to reduce fuel intake, instead of cutting their auto insurance.

Ladies' car insurance firm launches safety device

A new device has been launched by the car insurance firm Sheilas' Wheels in an attempt to make female drivers feel less anxious while looking for their keys.

A leading ladies' car insurance firm has announced that its customers can now purchase a new key ring which is designed to make them feel safer when driving alone at night.

Research by Sheilas' Wheels has shown that 33 per cent of women get panicked or anxious when getting into their car because it takes them so long to find their keys among all the other items in their handbag.

This anxiety could lead to a higher chance of having an accident on the road which may need to be claimed for under auto insurance, so the company has introduced a new fake ring which quickly opens car doors.

By pressing the gem on the ring, it acts as a remote for the car and unlocks the doors, leaving the female driver to get into the vehicle and safely search for the actual keys.

Jacky Brown from Sheilas' Wheels ladies' car insurance provider said: "We are always looking to address women's motoring safety concerns and with the Sheilas' Wheels KeyRing we do just that.

"Not only will women be able to open their cars with minimal fuss, but they will be able to quickly get in to the safety of their vehicle before having to root around in their handbag for their car keys," she added.

The ladies' car insurance provider recently raised concerns over the number of drivers who headed abroad this summer without sufficient cover or knowledge of foreign road regulations.

Its research showed that 33 per cent of drivers set off to European countries in their vehicle thinking the rules of the road on the continent are the same as those in the UK - which is not the case.

SOURCE: http://www.prudentminds.com/news/19353665/ladies-car-insurance-firm-launches-safety-device

UK's Chartered Insurance Institute to Host Conference on Terrorism

SOURCE: INSURNCE JOURNAL

The UK's Chartered Insurance Institute announced that its London Market faculty will hold a second "Counter Terrorist Workshop" in conjunction with the City of London Police on November 10.

The CII said the first conference, held earlier this year, had been a great success, as "feedback from attendees at the earlier workshop was extremely positive."

Gillian Donegan, CII faculties' manager, noted: "Regrettably the threat of terrorism continues to be an everyday part of 21st century life. Against this background there remains a continuing and pressing need for businesses of all sizes to plan how best to deal with the potential disruption caused by a major terrorist incident."

"Our workshop features a simulation of an attack - posing various questions and dilemmas for the delegates to resolve, providing a unique opportunity to work out how businesses, staff and customers are best protected."

The first event was delivered by Counter Terrorism Security Advisors and hosted by the CII.

Toni Longman, a director at Heath Lambert, commented: "I found the workshop thought provoking - it has raised the profile of terrorism and business continuity in my mind with regards to my own organization, and I will develop some of the themes and points raised today for inclusion in discussions with clients and in the advice I provide to them.

SOURCE: INSURNCE JOURNAL

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New U.K. Database Tackles Auto Insurance Fraud

COURTESY: INSURANCE JOURNAL

Where there are cars there are accidents, and where there are accidents there are insurance claims, which unfortunately are too often phony. The U.K. has announced a new measure to try and combat this kind of fraud, which the Association of British Insurers (ABI) estimates costs the industry around £20,000 ($37,300) a day.

An ABI bulletin described the initiative as a "new national database, which is being run by vehicle information experts HPI, and will contain details of all vehicles written-off following an accident or reported stolen." It will also keep track of over six million claims for total loss vehicles, "enabling insurers to expose scams and protect honest motorists."

The database replaces the Motor Insurance Anti Fraud and Theft Register, and it is hoped it will help "identify fraudsters who insure their vehicle with several insurers at the same time and then try to claim from each following a genuine or staged accident, or having reported the vehicle as 'stolen'." The original register was set up in 1987 to keep track of all vehicles written off by insurers, allowing them to check accident histories and claims made against these vehicles.

The ABI cited two salient examples of "multiple cheats who have already been caught out." They include:
- A policyholder who insured his old Fiat car with 11 different insurers, and then claimed for a replacement from each, following a crash, which he had caused himself. If successful he would have stood to gain £34,000 [$63,410] against the car worth £1,000 [$1,865].
- A woman reported her car stolen to the police. After her insurer had paid out, the database detected that the vehicle was no longer listed as stolen on the police national register. They confronted the policyholder who admitted that the car had not been stolen in the first place.

Justin Jacobs, Head of Motor and Risk Pricing at the ABI, commented: "Dishonest motor insurance claims are paid for by honest customers - this is why insurers are determined to stamp them out. The development of this new database shows the industry's commitment to sharing information with the common aim of reducing insurance fraud. Not only will it help detect more motor insurance fraud, but it will act as a strong deterrent, making anyone thinking of cheating on their insurance think twice."

Joe Doyle, Commercial Director of HPI, stated: "The new database supports insurance fraud detection by making the most of all available intelligence on total losses and thefts, including information from the Police National Computer. HPI is delighted to be running the system and at the support it has received from the whole motor insurance community."

SOURCE:http://www.insurancejournal.com/news/international/2005/01/21/49960.htm