HomeServe suspends sales calls

Emergency home repair insurer, HomeServe, is reported to have suspended outgoing sales calls and embarked on a retraining programme for staff, in response to accusations of mis-selling.

According to a report in The Sun, the company is in the process of reviewing the protocols followed by its 500 sales staff.

In a statement to the newspaper, HomeServe has apparently confirmed that it will not recommence outbound sales calls until relevant staff have been through a comprehensive retraining programme and all sales procedures meet expected standards.

In July, HomeServe was called to account by Ofcom after an investigation concluded that its call centre staff were persistently ringing homes and then abandoning calls before speaking, leaving the recipient with silence.

 

As Italian Drama Persists, Fears of Credit Crunch Spread to Small Businesses

The Atlantic Ocean is wide, but maybe not wide enough. On Thursday, markets had a mixed reaction to the deepening economic crisis in Europe. With Silvio Berlusconi’s exit as Italy’s prime minister, the nation is expected to name a new government within days. Some sources reported that the European Central Bank would step in and buy Italian bonds, easing fears that yields of more than 7% would cause the European economy to fracture.

In the U.S., small business owners grew nervous, while the equities markets took a slight hit. The crisis impacted oil prices, which fell on Europe’s political news but were buoyed by reports of weak U.S. Read more…

Foreign Insurers To Operate Compulsory Motor Insurance In China

Foreign funded insurance companies in China are expected to operate business on compulsory traffic accident liability insurance for motor vehicles, according to an article published by Shanghai Securities News.

The China Insurance Regulatory Commission has submitted plans to a higher regulator and is waiting for its decision.

Foreign insurance companies are likely to expand their market shares if involved in compulsory Auto Insurance business, as Auto Insurance accounts for more than half of China’s property and casualty insurance market and China’s Auto Insurance is one of the fastest growing insurance markets in the world.

“Our parent company has been winning a share of auto insurance markets in other countries, which provides us with valuable experience and data. We ha

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Senate GOP Attempts To Officially Undo CLASS Act

An attempt to bring up a bill to fast-track efforts to repeal the CLASS Act was beaten back by Democrats. But the AARP and 50 other advocacy groups sent a letter to lawmakers asking them not to touch the measure.

Politico Pro: CLASS Act Repeal Maneuver Fails In Senate Senate Democrats beat back an effort by Sen. John Thune to push through repeal of the CLASS Act on Wednesday afternoon. Thune (R-S.D.) tried to fast-track his bill to eliminate the CLASS Act by bringing it up through unanimous consent, pointing to the Obama administration’s decision to halt implementation of the financially troubled program (Millman and Haberkorn, 11/2).

The Hill: Senate GOP Pushes For CLASS Repeal Senate Republicans on Wednesday made the case for repealing the health care reform law’s CLASS program. Se

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How to Avoid Car Insurance Claims: Winter Driving Tips

Along with the hot wheels, cool trim, leather interior and killer sound system, your sports car came with another line item add-on that wasn’t part of the MSRP: sports car automobile insurance. Insuring your shiny fast ride can add thousands of dollars to cost of ownership over the life of the car…unless you’re a savvy shopper. Here’s what you need to know to help you find cheap sports car insurance (or at least reasonably priced). For starters, different insurance companies have different definitions of what is and isn’t a sports car. This is typically based on a VIN (vehicle identification number) system published by the Insurance Services Office or the company’s own ranking system. Either syst

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