Moneynotion Limited

26/05/2026

If you know someone under age 26 or so, trying to save money on car insurance, please show them this, preferably before they buy.
When it looks too good to be true, then it probably is just that.

Half (49%) of young drivers have bought insurance through social media or messaging apps, new research reveals. With 4 in 10 (39%) unconfident in spotting the signs of a fake policy, thousands could be paying for cover that doesn’t exist.

07/08/2024

With unrest and rioting in various parts of the UK at present, we at Moneynotion Limited want to ensure that our clients affected by it are aware of the requirements of the Riot Compensation Act 2016 (RCA).

Those clients whose operations have been disrupted by the violence need to be fairly compensated. All claims must be submitted within 42 days of the riot ending. (Don't wait 42 days, please do it now!)

Claimants must adhere to the RCA time limit, and providing as much of the necessary supporting evidence as possible. In the event that this evidence isn’t immediately available, it can be submitted later, but it must be received within 91 days of your insurers receiving notification of the claim.

Please contact us sooner rather than later if this affects you.

27/12/2023

UK State pension is set to rise by 8.5% next April. All well and good, but how is it right that those reaching pension age before April 2016 will receive £169.50 a week, when those attaining pension age later receive £221.20 per week, i.e. 30.5% more?

11/02/2022

Received from FCDO (used to be call our Foreign Office) this evening:

"Ukraine travel advice
Change made:
The FCDO now advises against all travel to Ukraine. British nationals in Ukraine should leave now while commercial means are still available. (‘Summary’ and ‘Returning to the UK’ pages)
Time updated:
6:21pm, 11 February 2022"

This invalidates nearly all travel insurance policies.

Latest travel advice for Ukraine including how to stay safe during the coronavirus (COVID-19) pandemic and information on returning to the UK.

29/10/2021

I know from my work on the British Insurance Brokers Association Cyber Insurance Group that cyber crime is very much on the increase. The attacks may even have gone higher than double, as not everyone attacked reports it.

Businesses, charities, not for profit organisations etc. need to ensure their physical protections are sound and they need to ensure they have adequate cyber insurance in place. Failing to do both is like putting good locks on one's home and then failing to insure it.

Jeremy Fleming says ransomware is proliferating as it is ‘largely uncontested’ and highly profitable

14/11/2020

Following up on a post earlier today on my personal page re current hacking attempts:

1 In FB's "search" box, type "2 factor authentication"

2 Install it on your account (FB will send a code to your mobile 'phone, without which you can't log in)

3 Check your profile and ensure your mobile 'phone number isn't available for all to see (hackers can discover which network you're on and have your SIM card cloned!)

4 Nowt to do with this but, whilst you're in your profile, ensure your postcode isn't on view for all to see!

Whilst on the point of security, why oh why, do people advertise on social media that they're not at home? This is especially so if away for several days. "I am out, please burgle me: you have x hours (or days) before anyone will be there," is one message. "I am away from my work, please contact my accounts department, pretending to be me, and empty my firm's bank account," is another!

Finally, remember that NOTHING is foolproof, not even the ideas expressed in this post. Stay alert and follow the maxim, if it don't look right, probably it ain't!

For all those who think they know better, you'd do well to remember that I see and/or hear of the insurance claim forms!

14/08/2020

As a result of the recent change in travel advice for Spain & France and the decision by some airlines and package operators to continue offering their services despite FCO advice against travel, some insurers have had little choice but to remove the benefit for cancellation and curtailment for a subsequent change in FCO advice.

Remember that travelling against Foreign & Commonwealth Advice (FCO) advice invalidates all cover benefits on a travel insurance policy. Please keep up to date with the FCO website and to read the policy wording.

01/04/2020

Covid-19 fraud awareness - please share.

Recently, Action Fraud reported a 400% increase in fraud related to Covid-19. Please be extra vigilant about pension fraud, and be wary of scammers phoning and asking for login details or passwords.

https://www.youinvest.co.uk/articles/investmentarticles/194654/beware-rise-pension-scams-coronavirus-fraud-reports-surge-400?utm_source=April+service+update+2020&utm_medium=email&utm_campaign=April+2020+service+update&utm_term=Our+latest+service+update&utm_content=49074&gator_td=uWHI9%2fG908F8pQBzaTD%2bSvaZf40qU%2b1ZdfkmH7s%2bXCXTghfjD7JseOvUJIjvl4T4qsJ0riWRPH80LjvkNoG7qjievTAmJlRUF0hR3I4Q0mA6L3bzEXJrJwl2HB09NCuq%2fmAgei7lAk9rgqGNXcChbb5vbfrt2goqOl2jvyxun9g1uGMtGOSima6Tf%2fbsgsn%2b

23/10/2019

Travel Within the EU, Motor Insurance, Travel Insurance and a WTO (aka No Deal) Brexit

1. Green Cards will be needed for all travel in the EU

a. The document MUST be on green paper, with no white border and must be with the vehicle
b. No Green Card means you are not insured!
c. It cannot be electronic as the Green Card is enshrined in 1940s legislation. In order to change it, EACH & EVERY government within the EU plus the United Nations will have to agree before electronic documents will be valid. (The same will apply to EU registered vehicles coming here.) Agreement and legislative changes here and across the EU won’t happen quickly!
d. Each and every trailer must have a separate Green Card with the serial number of the trailer on it. THIS INCLUDES CARAVANS!
e. Hauliers please note – the practice of an articulated vehicle taking a trailer from A to B, then picking up a different trailer to go to C and a further (different) trailer to go to D etc. poses difficulties of which the politicians apparently have not given much, if any, thought. The trailer number must be on the Green Card. Often the haulier doesn’t know which trailer down the line will be used until the driver arrives at the changeover point. Then there is the difficulty of getting the document to the driver. In conjunction with BIBA, we’re working on a possible solution.
f. If your policy is due for renewal whilst you are away, make sure that you have present and future insurance arrangements in place for up to, and after, renewal before you leave the UK, including having Green Cards for the entire trip abroad.
g. Some private car insurers have said they may need up to 3 weeks to prepare Green Cards, so order yours early!

2. International Driving Permits (IDP)

a. These are available from Post Offices at a cost of £5.50 each
b. The duration of each permit is 1 year
c. A passport type photo is needed for each permit
d. Make sure you obtain the correct permit or permits. There are 3 different ones, depending on which countries you are visiting. For example, for a holiday drive from the UK to Spain through France, each driver may need 2 (different) international driving permits, as the rules for France and Spain are different (see government web link below). You will also need a Green Card for the car and a separate Green Card for the caravan!
e. Useful links:
i. British Government (info on driving abroad and which IDP you need) - https://www.gov.uk/driving-abroad/international-driving-permit
ii. Post Office (tells you the nearest one doing permits and what you need to take) - https://www.postoffice.co.uk/identity/international-driving-permit

3. Spanish Bail Bonds – In the days when Green cards were routine, you needed a Spanish Bail bond too, if you were driving in Spain. Without one, you would probably have been arrested and held until any court case. Bail Bonds are now illegal in the EU.

4. Accidents Involving Uninsured Drivers

a. BIBA staff understand that there is a higher level of uninsured drivers in some EU countries than here.
b. Some EU nations have similar compensation arrangements to the Motor Insurance Bureau (MIB) here for those unfortunate to be hit by an uninsured driver. France, Romania & Poland does not offer this to UK citizens. If you are hit by an uninsured driver in one of these countries, the chances are that you’ll be relying on your own insurance policies in the UK.

5. European Health Insurance Card (EHIC)

a. After Brexit the EHIC card will not be valid.
b. It is particularly important that suitable travel insurance is in place. Emergency medical expenses is the main cost to travel insurers. Don’t be without cover whenever you travel outside the UK.
c. This was a worst-case scenario:
i. A Russian national needed medical treatment in Egypt.
ii. Russian travel insurers are notoriously slow at paying out.
iii. The Egyptians refused to treat him until they were paid and let him die.
iv. They then pondered how to get paid, so they harvested his organs as payment and sent what was left of him back to his widow in Russia!

6. Taking Pets abroad – Post Brexit the rules may change.

Copyright Moneynotion Limited 23/10/2019

22/05/2019

This is the reason our company is careful with the insurers we recommend. (We have never recommended this insurer.)

According to Insurance Times, on 20/05/2019 Gibraltar based insurer LAMP submitted an application to Gibraltar's Supreme Court to appoint an Official Receiver and place the company in liquidation.

The company is said to be insolvent and unable to find additional funding. A hearing is due to take place on 31/05/2019.

LAMP provided general insurance products including legal expenses, healthcare, general and warranty insurance to policyholders in the UK and elsewhere. They were passported into the UK on EEA Rules and were unrated, i.e. they either never applied for, or couldn't obtain, a credit rating.

If you have policies with LAMP, contact the firm which sold you the policy and ask why they recommended an unrated offshore insurer and what are they doing to replace cover elsewhere at their own expense.

Contact the Financial Services Compensation Scheme (FSCS) if you need to seek compensation.