The UK’s biggest banks have signed an agreement with the government this week. Many say that this is just what is required in order to help small business in this very difficult trading period.

The landmark agreement which has been signed by HSBC Bank, Barclays Bank, Lloyds Banking Group, Royal Bank of Scotland and Santander is designed to provide business with

 

Challenging times for the employment market in the UK

On February 25, 2011, in Uncategorized, by Kesh Thukaram

Two major reports released by the Office of National Statistics (ONS) this week just re- affirms the challenges that lies ahead for the employment market in the UK.

Firstly, the inflation figures released deflated the hopes of many people who were hoping that interest rates would be left untouched for some time. The inflation at its current levels of 4% is double the target rate set by the government for Bank of Inflation. Most analysts believe that the Bank of England has to increase the base rate of interest from its historical low levels of 0.5% by at least a quarter or half a point to curb increasing inflation. Though the Governor of Bank of England made a few comments that has dampened the expectations of an early rise, it is inevitable that an interest rate rise is in the offing in the near future.

 

Income Protection vs Payment Protection Insurance

On February 25, 2011, in Uncategorized, by Kesh Thukaram

What is the difference between income protection and payment protection insurance?

I have not come across a simple, clear, well defined explanation of these two most commonly used terms in the protection industry. Though I have read reams of policy wordings, key fact documents of Best Insurance and our competitors, its baffling that the difference is not well explained. I have all sympathies for my insurance colleagues who due to nature of their work, the difference would seem very obvious and I remember some of them looked baffled when I asked this and the expression on their faces was all about – how come this person does not even understand such a fundamental difference. However when I asked around my friends and people I know who are not in the industry almost mis-took one for the other. A section of them thought whats all this fuss all about and the ones who cared to reflect on my question, thought it was not trivial – afterall both are insurance policies which pay out when one loses job or has an accident or sickness leading to loss of pay.