High performance car parts are often more expensive. If you are in an accident, getting the right parts, which may be in limited production, is likely going to cost more than parts for a car that is mass produced.
The Government has, to be fair, recognised that this is a problem and has taken some steps to try and tackle it: Earlier this year, government banned the referral fees that insurance companies can earn by selling your details to a solicitor if you’ve had a non-fault accident – that’s how you get all the phone calls inviting you to make a personal injury claim after an accident.
The government recently began a crack-down on the large number of uninsured drivers with the introduction of Continuous Insurance Enforcement (CIE) which states that every car, whether on or off the road, has to be covered. Reduce your mileage: One of the things insurers will look at is how many miles you estimate you’ll be covering over the course of the year. Therefore, if you can reduce this by using public transport or getting involved in a car share you may save money on your premium. Take an advanced driving course such as Pass Plus : As well as improving your driving, insurers will look favourably on this extra experience and it may result in cheaper new driver car insurance premiums.
The government says it wants the new benefit to help people with learning difficulties more, but as I’m not an expert in the field I really don’t know the extent to which the proposed criteria etc will, or won’t, achieve that. Don’t forget the government isn’t planning to replace DLA with PIP for children until after they’ve done so for working age adults, so you have a bit more of a breathing space than we do.
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The Great-West Life Assurance Company is a life and health insurance company and was founded in 1891 in Winnipeg, Manitoba. Great-West Life is currently owned by Great-West Lifeco , which is itself a joint-stock corporation traded on the Toronto Stock Exchange (TSX:GWO). Great-West Lifeco also owns the London Life Insurance Company, the Canada Life Assurance Company, and Great-West Life & Annuity Insurance Company and is the largest insurance provider in Canada. The majority owner of Great-West Lifeco is the Power Corporation of Canada who administer Great-West through the Power Financial Corporation.
The Great-West Life Assurance Company is a life and health insurance company and was founded in 1891 in Winnipeg, Manitoba. Great-West Life is currently owned by Great-West Lifeco, which is itself a joint-stock corporation traded on the Toronto Stock Exchange (TSX:GWO). Great-West Lifeco also owns the London Life Insurance Company, the Canada Life Assurance Company, and Great-West Life & Annuity Insurance Company and is the largest insurance provider in Canada. The majority owner of Great-West Lifeco is the Power Corporation of Canada who administer Great-West through the Power Financial Corporation.
The Group continues to maintain a low risk investment strategy and continues to invest in the same asset classes as in previous years. A shift in allocation of funds, which commenced in 2014, has continued during 2015 with a greater proportion invested in fixed income and other short dated securities (and less in money market funds and deposits). This change was made in order to increase yield without materially increasing risk. As a result of these changes, the proportion of the Group’s cash and investments held in fixed income and short-dated securities was 54% at 30 June 2015, up from 37% a year earlier.
The Group continues to manage its capital to ensure that all entities within the Group are able to continue as going concerns and also to ensure that regulated entities, as well as the Group, comfortably meet regulatory capital requirements. Excess capital above these levels within subsidiaries is paid up to the Group holding company in the form of dividends on a regular basis.
The Group is, from time to time, engaged in legal matters or disputes (including, but not limited to, employment, regulatory matters and data protection) which might result in an outflow of benefits from the Group. Where the Group is able to reliably estimate probable losses, provision is made. The Group has not disclosed estimates of the potential financial effect of contingent liabilities arising from matters where the impact is highly unlikely to be material, or where it is not practicable to do so, or, in cases where it is practicable, where disclosure could prejudice conduct of the matters.
The Group loss ratio improved to 60.8% (H1 2014: 67.1%), primarily due to very positive UK claims development leading to higher reserve releases. The Group expense ratio increased to 21.9% (H1 2014: 18.0%). The main reason for this increase is that 2014 benefited from a one-off adjustment to expenses as a result of the change in approach to accounting for UK Car Insurance levies. In addition to this, the expense ratio is also impacted by a reduction in the UK car insurance average earned premium.