A WEEK IN PERSONAL FINANCE
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.More than two-thirds of private investors expect a Labour victory in the next general election. But only 15 per cent trust "New Labour", and most would dramatically shift their investments out of the UK stock market and into shares overseas if Labour came to power, says a new survey of 2,500 people by investment managers Cantrade.
The cost of insurance fraud fell from pounds 600m in 1994 to pounds 585m this year, according to the Association of British Insurers. The ABI said it was committed to reducing fraud further and would encourage the prosecution of those making fraudulent claims.
Motor insurance premiums could fall further as big insurers such as Direct Line pass on savings from running their own repair garages, predicts actuaries Bacon & Woodrow. Further premium cuts of more than 10 per cent could be possible.
The Banking Ombudsman awarded record damages of almost pounds 1m against banks last year in response to complaints from consumers. The smallest award was pounds 10 and the largest pounds 70,000. But the Ombudsman said complaints to his office were down overall and suggested that banks might be improving both customer service and their own handling of complaints.
The UK's largest insurer, the Prudential, called on the Government to look at simplifying pensions. Measures suggested included extending the proposed "plain english" exercise for tax to pensions.
Employers are concerned about the cost of private medical insurance plans for staff to their organisations, according to a survey by the CBI.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments