News

10-09-2010

The standard rate of IPT applicable to most general insurance will increase from 5% to 6% with effect from 4 January 2011.

A higher rate of IPT applies to Travel Insurance.  This will increase from 17.5% to 20% with effect from 4 January 2011.

 

  10-09-2010

 

Motor Policyholders:

 

 The way checks are made on your legal duty to insure your vehicle are changing

 

Uninsured drivers cost the UK more than £500 million a year.  The police already use the Motor Insurance Database (MID) to detect uninsured vehicles on the road and more than 500 are seized every day.  Around 300,000 offenders are convicted for uninsured driving every year.

From 2011 if there is no record on the MID showing your vehicle is insured, and you have not declared it as ‘off road’, you will receive a letter warning you that you could face a fine, prosecution, and the vehicle could also be clamped, seized and ultimately, destroyed.

This new approach is being introduced to protect honest motorists and do even more to prevent people from driving without insurance. 

Most people obey the law, but there are still too many people driving without insurance.  So in future all vehicles must be insured, even if they are not  being used on the road. (Vehicles with a valid Statutory Off Road Notice (SORN) are not affected by this legislation).

What do I need to do?

If you are insured, the good news is there is no need to worry. However, it would be good to get into the habit of checking that your vehicle appears on the MID. This will avoid the inconvenience of you being un-necessarily contacted or worse, stopped by the police

All insurers can update the MID directly, so if you check www.askMID.com and your vehicle doesn’t appear, then you should ask your insurance provider to get the MID updated. 

Stay insured – You can’t afford not to

 

 10-09-2010

Motor Policyholders - Data Protection Act

Information relating to your insurance policy will be added to the Motor Insurance Database ("MID") managed by the Motor Insurers’ Bureau ("MIB").  MID and the data stored on it may be used by certain statutory and/or authorised bodies including the Police, the DVLA, the DVLANI, the Insurance Fraud Bureau and other bodies permitted by law for purposes not limited to but including :

          I.    Electronic Licensing

        II.    Continuous Insurance Enforcement;

       III.    Law enforcement (prevention, detection, apprehension and or prosecution of offenders)

      IV.    The provision of government services and or other services aimed at reducing the level and incidence of uninsured driving.

If you are involved in a road traffic accident (either in the UK, the EEA or certain other territories), insurers and or the MIB may search the MID to obtain relevant information.

Persons (including his or her appointed representatives) pursuing a claim in respect of a road traffic accident (including citizens of other countries) may also obtain relevant information which is held on the MID.

It is vital that the MID holds your correct registration number. If it is incorrectly shown on the MID you are at risk of having your vehicle seized by the Police. You can check that your correct registration number details are shown on the MID at www.askmid.com

30/09/2009:

IMPORTANT ANNOUNCEMENT – CHANGE OF COMPANY NAME WITH EFFECT FROM 1ST OCTOBER 2009

We are pleased to announce that following the recent name change of our Parent Company to China Taiping Group [formerly known as China Insurance (Holdings) Co.] and the rebranding of the group name to CHINA TAIPING (formerly known as China Insurance Group)  our Board of Directors has resolved to follow the Group's strategy in unifying the Group's identity by changing our company name with immediate effect from China Insurance Co (UK) Ltd to China Taiping Insurance (UK) Co Ltd.

31/07/2007:

Chinese Herbal Shop & Clinic Insurance news, click here to read

17/07/2007:

Mr. Chong Quan, Assistant Minister of the Minstry of Commerce of P.R.C visited our office in London

30/03/2007:

Share Capital was increased by a futher £5 million for the Company advised by the Head Office to support the future European development

07/03/2007:

Deloitte Touche LLP were appointed as auditor for the Company following the resignation of KPMG audit Plc with the agreement of our Head Office