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by Bill Freehling
Drivers who let their car insurance lapse in the UK face fines of up to 1,000 British Pounds even if the vehicle isn't on the road, reports the Daily Telegraph of London.
In Britain you could leave your vintage automobile at home and never plan to drive it, but if it's registered and without car insurance you could face the fine.
Autos without car insurance that are left behind on the road could be seized under the new laws.
The British government has said the new car insurance regulations are meant to crack down on motorists without car insurance who are blamed for 160 deaths per year.
Needless to say not everyone is thrilled about the new car insurance penalties. Some say it could hurt innocent people who mistakenly let their car insurance lapse.
The big winner here could be the car insurance companies. Brits are likely to pay pretty close attention to making sure their policies are up to date if these regulations are put in place.
Geico, Allstate and State Farm might consider setting up shop there to sell car insurance. It's a business that seems so easy that a caveman could do it.
Written by Bill Freehling
Source: Car insurance in Britain: Don't leave home without it | HULIQ
31.07.10
President Barack Obama said the “tough decisions” he made to give almost $60 billion in aid to the U.S. auto industry saved a million jobs and led to the strongest period of growth for automakers in a decade.
In his weekly address on the radio and the Internet, Obama said the help given to General Motors Co. and Chrysler Group LLC have led to a “hopeful story” of economic recovery following the nation’s worst economic crisis since the Great Depression.
“There’s no doubt that we have a long way to go and a lot of work to do before folks here and across the country can feel whole again,” he said in the address, recorded at a GM plant in Hamtramck, Michigan, yesterday. “But what’s important is that we’re finally beginning to see some of the tough decisions we made pay off.”
Obama is stepping up his defense of government aid to automakers as polls show voters haven’t been persuaded the spending was worthwhile. A Bloomberg National Poll conducted July 9-12 shows the federal assistance package to automobile companies is becoming less popular: 48 percent say they became less supportive of it in recent months, while 17 percent say they have become more supportive.
Source: Bloomberg
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