Insurance industry
General Electric's finance subsidiary, GE Capital Corporation, has increased its cash bid for Kemper Corporation to $60 a share, or about $1.99 billion, from its previous offer of $55 a share. This significant increase has put Kemper on the auction block, but analysts suggest that it is
Insurance industry
Kemper Corporation, a financial services giant based in Long Grove, Illinois, has formally put itself up for sale, marking a significant shift in its stance on a potential takeover bid from the General Electric Company. The decision follows a $190 million increase in G.E.'s offer, which now
Personal finance
Michael Holroyd, a homeowner in West London, has been forced to live and work in a "bomb site" for nearly five months due to a dispute with his insurer, Royal Insurance, over providing alternative accommodation after his home suffered from subsidence. Despite being informed by structural engineers that
Personal finance
Linda Doig, a housewife from Tayside, Scotland, is facing financial ruin after her husband Bill's death from a heart attack last August. Despite having two endowment mortgage policies with Guardian Royal Exchange, now known as Guardian, the company has refused to pay out the £28,000 policy value.
Personal finance
Despite a trend of insurance premiums stabilizing in the coming months, householders in certain areas may face further increases as insurers introduce risk-based systems to differentiate between good and bad risks. The Association of Accident Insurers (AA) reports that average prices among its panel of insurers are now stabilizing, with
Personal finance
As people live longer and retire earlier, the demand for long-term care insurance is expected to rise sharply. However, to date, the market has been slow to take off, with only a few insurance companies offering policies and even fewer people seeking coverage. Commercial Union, a leading provider of long-term
Personal finance
Recent tax changes that have made company cars less cost-effective for employees have been offset by the high cost of insuring their own vehicles. According to a survey by OneQuote, insurance premiums for ex-company car drivers vary by as much as 500% depending on the insurer's policy. Despite
Personal finance
Directors of Equine and Livestock Insurance Company, a leading UK equine insurance firm, have been fined substantial sums for violating the Consumer Credit Act. The company, which sells policies through a sister firm, Entertainment & Leisure Insurance Services, has faced widespread criticism for its policy conditions, with experts suggesting they
Personal finance
The insurance industry is grappling with issues of mis-selling by pension salesmen, highlighting the need for more effective regulation. A recent report by KPMG Peat Marwick found that most sales sampled had incomplete paperwork, but companies argue this does not necessarily imply that the products should not have been sold.
Personal finance
Liz Davies, a secretary, was prescribed acupuncture for her sinusitis after conventional treatments failed, and she credits the six sessions with curing her condition. Her company's health policy, Clinicare, covered the treatment, as long as the practitioner was recognized and the problem identifiable. This is not an isolated
Personal finance
Premiums for car and household insurance can be a significant burden for many people, prompting them to opt for instalment payment plans to spread the cost. However, insurers have expressed concerns that fraudsters and individuals who default on payments are taking advantage of these schemes. To combat this, insurers have
Personal finance
The House of Lords has recently upheld an Equal Opportunities Commission appeal, ruling that the denial of rights to part-time workers in the workplace was tantamount to indirect sexual discrimination. This decision will grant part-time workers, who work less than 16 hours a week, the same protection under the 1978
