UK insurers expected to pay out £2.5bn for coronavirus insurance claims from 2020

Insurers will pay out £2.5bn for coronavirus claims from 2020 with majority linked to business interruption It is estimated that £2.5bn will be paid out in insurance claims from 2020  Some £2bn of that will go on business interruption claims alone  Another £204m is thought to be paid for Covid-19 related protection insurance claims By Grace … Read more

British Gas is the first of the Big Six to announce its hiking its prices for default customers

British Gas is the first of the Big Six to announce it’s hiking prices for millions of default tariff customers in April after the price cap announcement The Big Six provider is the first to announce its hiking its prices in April  It is increasing costs in response to the energy price cap announcement  Default … Read more

O2 fined £10.5m by watchdog after it overcharged 140,000 customers

O2 fined £10.5m by watchdog after it overcharged 140,000 customers with the telecoms giant blaming billing errors The network has been fined £10.5m by Ofcom after overcharging customers  It said the mistake was due to a billing error but has since rectified the problem All customers hit have been refunded and received an extra 4% … Read more