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Motor insurers are paying their policyholders less than what their stolen or written off vehicles are actually worth when they make claims, according to the Financial Conduct Authority.
Shares in Direct Line fell six percent as it said the group had rejected a second cash-and-shares proposed bid from Ageas that was made on March 9, worth 237p a share valuing the firm at around £3.11 billion.
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Bucking the overall positive market trend, insurance stocks declined up to 5 percent in trade today (Friday, December 15), after the IRDAI proposed a higher surrender value and lower charges for life insurance companies in a consultation paper.
Here are Larry's picks among the past week's important, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as expertly crafted easy-to-understand automotive universe news nuggets.
Click for Larry's picks among the past week's important, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as expertly crafted easy-to-understand automotive universe news nuggets