A spokesman from Norwich Union has said that the GBP2.6 billion reattribution of surplus funds is close to being resolved following previous disputes.
A representative for policyholders has been asking for changes since the reattribution of funds was biased in favour of Norwich Union shareholders and needed attention. Following this a committee from the government has been looking at the situation to ensure fairness.
Norwich Union are offering payments to with profits insurance fund policy holders but they will then not be eligible for any further annual bonuses. They are yet to hear if this latest offer is acceptable but hope it will be so that the funds can be paid out.
A study carried out by Zurich Insurance has found that the people of Britain are keen volunteers and are set to be even more so in the coming year.
The study showed how around 35 percent of British adults are actively involved in voluntary projects. Overall these people spend over 52 million hours each week providing their services as unpaid volunteers. The Zurich Insurance survey also showed that, in the next 12 months the number of volunteers will rise to over 50 percent.
A Zurich Insurance commentator was delighted to see such strength of support for worthy causes across the country but added that this situation should be managed correctly by the organisers. Key factors to consider are effective training for volunteers and ensuring adequate insurance cover is in place, both for the volunteer and public liability.
Find out more about Zurich Insurance at Moneygossip.co.uk.
Top level managers at Hastings Direct insurance company have denied rumours that job losses will be greater than that already advised.
The local newspaper in Bexhill, where Hastings Direct are the towns biggest employer, has been receiving anonymous calls saying that rather than the ten job losses that had been stated there were in fact over fifty less jobs at the company now. There was also speculation that more reductions were on the way.
To clarify the position the company released a statement in which it was made clear that redundancies would add up to ten at the most, coming from a review of operations that had been underway for some time. Any other reductions in the number of jobs had come naturally, either via retirement or by people not being replaced if they left.
Hastings Direct also wanted to confirm they are a very active and successful participant in the insurance market, with plans to develop further in the future. They also intend to retain their Bexhill offices as the centre of operations, aiming to grow further as the business expands.
