2014 promises to be a pivotal year for the UK insurance sector. Competition has never been greater, particularly when it comes to motor, household and travel insurance. More and more people are buying their policies through price comparison sites, rather than direct or via brokers, bringing down margins. Loyalty is at an all time low – 38% of UK motor insurance customers switched provider at...
Recent poor weather on both sides of the Atlantic has caused widespread disruption, with flooding in the UK and subzero temperatures in the US continuing to make the front pages. Many people have been forced to leave their homes or had to live without heating or power.The weather has also had a major impact on travel, with trains cancelled and flights delayed or re-routed. Back in early December, ...
1st January 2014 saw a major change in the utility sector, as new Ofgem regulations came into force. Designed to create a clearer market, suppliers are now limited to offering eight tariffs to customers (four each for electricity and gas), which will be structured more simply. The aim is to make it easier to compare prices from different suppliers and therefore encourage switching to ensure consum...