Latest news with #NationalInsurance
Time of India
4 hours ago
- Time of India
Nat'l Insurance Co wins appeal in car robbery claim
Panchkula: The Haryana State Consumer Disputes Redressal Commission (Panchkula) has overturned a previous district court ruling that had directed National Insurance Company Ltd. to pay Rs 3.17 lakh to a complainant whose insured vehicle was allegedly stolen. In its order pronounced on June 13, the Commission allowed the insurer's appeal while dismissing a cross-appeal filed by the complainant seeking enhanced compensation. The case involved Mahipal Singh Rana, a resident of Sector 32, Kurukshetra, who claimed that his car (No. HR-26U-0018), insured with National Insurance from May 2012 to May 2013, was snatched at gunpoint on Dec 6, 2012. According to the complaint, he was forcibly thrown out of the car by two unknown assailants after being threatened with death. He claimed the robbers also stole two mobile phones, Rs 9,000 in cash, identity documents, bank cheques, and important car papers. Mahipal lodged a police complaint the same day, resulting in the registration of an FIR (no. 279) under IPC sections 382, 365, 392 and 34. However, the insurer repudiated the claim, alleging non-cooperation and delay in informing them. The district consumer forum had earlier directed National Insurance to pay the insured value of the vehicle within 60 days, prompting the company to challenge the decision. In its judgment, the state commission held that Mahipal's conduct cast serious doubts on his claim. It noted that while the incident occurred in Dec 2012, the insurer was only formally informed in Dec 2015 — an "inexplicable and inordinate delay" that severely undermined the credibility of the claim. Moreover, the commission highlighted Mahipal's contradictory conduct during criminal proceedings. Though he had earlier identified the accused during police investigation, he refused to recognise them during trial, resulting in their acquittal by a Delhi court in June 2015. This clearly indicates the complainant had not only failed to cooperate with the insurer's investigation, as mandated by the policy, but also actively undermined the prosecution, as observed by the Commission. Insurance is a contract, and its terms are binding. Breach of cooperation and unexplained delay are fatal to the claim. The Commission, therefore, allowed the insurer's first appeal (no. 355 of 2018) and set aside the district court's order dated Jan 17, 2018. In consequence, Mahipal Singh Rana's cross-appeal (F.A. no. 879 of 2018) seeking additional compensation for mental agony, litigation costs, and interest was also dismissed. The Commission also ordered that the statutory deposit of ₹25,000 made by National Insurance at the time of filing the appeal be refunded, subject to verification. This ruling highlights the importance of timely reporting and full cooperation in insurance claim processes and is expected to serve as a precedent in similar cases of delayed intimation and alleged claimant misconduct. BOX UNRAVELLING THE CASE Who is the owner of the car? Mahipal Singh Rana, a resident of Sec 32, Kurukshetra What was his claim? He claimed that his car, insured with National Insurance from May 2012 to May 2013, was snatched at gunpoint on Dec 6, 2012. According to the complaint, he was forcibly thrown out of the car by two unknown assailants after being threatened with death. He claimed the robbers also stole two mobile phones, ₹9,000 in cash, identity documents, bank cheques, and important car papers. Mahipal lodged a police complaint the same day, resulting in the registration of an FIR under IPC sections 382, 365, 392 and 34 Why did the insurer reject his claim? The insurer repudiated the claim, alleging non-cooperation and delay in informing them. The district consumer forum had earlier directed National Insurance to pay the insured value of the vehicle within 60 days, prompting the company to challenge the decision What discrepancies did the state consumer forum find? It noted that while the incident occurred in Dec 2012, the insurer was only formally informed in Dec 2015 — an "inexplicable and inordinate delay" that severely undermined the credibility of the claim. Besides, though he had earlier identified the accused during police investigation, he refused to recognise them during trial, resulting in their acquittal by a Delhi court in June 2015 Panchkula: The Haryana State Consumer Disputes Redressal Commission (Panchkula) has overturned a previous district court ruling that had directed National Insurance Company Ltd. to pay Rs 3.17 lakh to a complainant whose insured vehicle was allegedly stolen. In its order pronounced on June 13, the Commission allowed the insurer's appeal while dismissing a cross-appeal filed by the complainant seeking enhanced compensation. The case involved Mahipal Singh Rana, a resident of Sector 32, Kurukshetra, who claimed that his car (No. HR-26U-0018), insured with National Insurance from May 2012 to May 2013, was snatched at gunpoint on Dec 6, 2012. According to the complaint, he was forcibly thrown out of the car by two unknown assailants after being threatened with death. He claimed the robbers also stole two mobile phones, Rs 9,000 in cash, identity documents, bank cheques, and important car papers. Mahipal lodged a police complaint the same day, resulting in the registration of an FIR (no. 279) under IPC sections 382, 365, 392 and 34. However, the insurer repudiated the claim, alleging non-cooperation and delay in informing them. The district consumer forum had earlier directed National Insurance to pay the insured value of the vehicle within 60 days, prompting the company to challenge the decision. In its judgment, the state commission held that Mahipal's conduct cast serious doubts on his claim. It noted that while the incident occurred in Dec 2012, the insurer was only formally informed in Dec 2015 — an "inexplicable and inordinate delay" that severely undermined the credibility of the claim. Moreover, the commission highlighted Mahipal's contradictory conduct during criminal proceedings. Though he had earlier identified the accused during police investigation, he refused to recognise them during trial, resulting in their acquittal by a Delhi court in June 2015. This clearly indicates the complainant had not only failed to cooperate with the insurer's investigation, as mandated by the policy, but also actively undermined the prosecution, as observed by the Commission. Insurance is a contract, and its terms are binding. Breach of cooperation and unexplained delay are fatal to the claim. The Commission, therefore, allowed the insurer's first appeal (no. 355 of 2018) and set aside the district court's order dated Jan 17, 2018. In consequence, Mahipal Singh Rana's cross-appeal (F.A. no. 879 of 2018) seeking additional compensation for mental agony, litigation costs, and interest was also dismissed. The Commission also ordered that the statutory deposit of ₹25,000 made by National Insurance at the time of filing the appeal be refunded, subject to verification. This ruling highlights the importance of timely reporting and full cooperation in insurance claim processes and is expected to serve as a precedent in similar cases of delayed intimation and alleged claimant misconduct. BOX UNRAVELLING THE CASE Who is the owner of the car? Mahipal Singh Rana, a resident of Sec 32, Kurukshetra What was his claim? He claimed that his car, insured with National Insurance from May 2012 to May 2013, was snatched at gunpoint on Dec 6, 2012. According to the complaint, he was forcibly thrown out of the car by two unknown assailants after being threatened with death. He claimed the robbers also stole two mobile phones, ₹9,000 in cash, identity documents, bank cheques, and important car papers. Mahipal lodged a police complaint the same day, resulting in the registration of an FIR under IPC sections 382, 365, 392 and 34 Why did the insurer reject his claim? The insurer repudiated the claim, alleging non-cooperation and delay in informing them. The district consumer forum had earlier directed National Insurance to pay the insured value of the vehicle within 60 days, prompting the company to challenge the decision What discrepancies did the state consumer forum find? It noted that while the incident occurred in Dec 2012, the insurer was only formally informed in Dec 2015 — an "inexplicable and inordinate delay" that severely undermined the credibility of the claim. Besides, though he had earlier identified the accused during police investigation, he refused to recognise them during trial, resulting in their acquittal by a Delhi court in June 2015
Business News Wales
6 hours ago
- Business
- Business News Wales
Hospitality Sector Ranked Lowest for Hourly Pay, New Data Reveals
Hospitality businesses offer the lowest hourly pay of any UK sector, new research suggests. Business finance experts at business bank accounts said that analysis of ONS data shows that tighter margins mean that hospitality firms are forced to offer staff hardly more than minimum wage. It comes as the UKHospitality chief executive Kate Nicholls has criticised the Uk Government's efforts to boost business growth through its recently announced Industrial Strategy, saying it failed to address the challenges facing the hospitality sector. Industries with the lowest hourly pay: The accommodation and food service activities sector makes up a significant part of the UK's economy, with the hospitality sector's annual economic contribution hitting £93 billion in 2023 and estimated to increase by another £29 billion by 2027. Despite this, this industry's workers have the lowest hourly pay rate. An average working week is around 26 hours long, and the average hourly pay is £12.39 – just 18 pence above the national living wage. Businesses within the industry have faced a lot of financial hardship in recent years, the researchers said, including the Covid pandemic and National Insurance increases. This has made improving workers' pay increasingly difficult while still making a profit, contributing to lower hourly rates in the sector. The sector also ranked in the top 10 for the amount of overtime worked, with employees clocking an average of 2.8 hours of overtime per week. Joe Phelan, business bank accounts expert, said: 'Attracting and retaining high-quality talent doesn't just come down to salary – it's also about meeting evolving expectations around working conditions. Today's employees are more willing to walk away from roles that don't offer a healthy work-life balance or prioritise wellbeing. That means businesses need to offer more than just pay; they must create environments with manageable hours, flexibility, and genuine support. 'When companies get this right, they typically see lower staff turnover, higher engagement, and more consistent productivity, all of which feed into more stable operations and healthier cash flow. And with greater financial predictability comes the ability to plan and grow with confidence.'
Scottish Sun
7 hours ago
- Business
- Scottish Sun
Full list of 43 shops and banks vanishing from British high street forever in July – is your local closing?
MAJOR retailers and banks will close several stores for good this month as the high street continues to face difficulties. The closures come as UK businesses continue to faced increased costs alongside a decline in footfall. 1 More retail and bank locations are set to close in July as businesses face lower footfall and higher costs (stock image) Credit: Getty Changes in this year's budget, including an increase in employer National Insurance contributions and energy and rent costs have piled on pressure for companies. As a result, some retailers have been forced to make drastic changes to remain competitive. This includes hiking prices, reviewing expansion plans and reducing the number of stores they have. Here is a full list of the shops and banks we know are shutting in July 2025. The Original Factory Shop The discount high street chain closed nine shops in June after previously warning it would have to shut some 'loss-making' locations. This comes after the discount chain began to struggle in recent years. And now the retailer is now set to close its location in Staveley, Cumbria on July 12. The private equity firm Modella bought The Original Factory Shop in February and has since launched a restructuring effort. This was carried out in an effort to renegotiate rents at 88 The Original Factory Shop stores across the country. Modella also recently bought Hobbycraft and WHSmith's high street shops. Co-op Faces Uncertain Future: 34 Stores at Risk Amid Financial Struggles Iceland The supermarket chain will close its store on Rose Street in Inverness on July 12. There will no longer be any Iceland stores in the Scottish city, with the closest located in Aberdeen. This move will come just weeks after Iceland shut down its Margate branch. The retailer has not yet confirmed the reason for the sudden closure but it has been completing a broader reshuffle of its operations in recent months. This is part of an effort to adapt to shifting consumer habits, cost pressures, and the growing demand for convenience and online shopping. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." Poundland After a series of closures in the past few months, Poundland is set to shut down its location in Deepdale Retail Park in Preston on July 5 and another store in Newquay on July 30. Gordon Brothers, the ex-owner of Laura Ashley, purchased the business from Polish owner Pepco Group for £1 after a downturn in trading. The new owners are asking the court for permission to close 68 stores and negotiate lower rents on others. Up to 82 more stores are potentially at risk of shutting down in the future. However, before the sale was agreed, Poundland had already planned to close 18 stores, with the July shutdowns among the last to be confirmed. New Look The famous fashion retailer is set to close another location at the beginning of July. Hamilton, Scotland will see its New Look store permanently pull the shutters on July 1. The move comes after the shop announced it would be closing nearly 100 stores in the coming months. A New Look spokesperson said: 'Our store in Hamilton is set close on July 1. We would like to thank all of our colleagues and the local community for their support over the years. "We hope customers continue to shop with us online at where our full product ranges can be found.' Santander Santander is set to close 38 branches next month after announcing locations were struggling due to the increase in online banking. A statement on the Santander website reads: "We last did a major review of our branches in 2021. "Since then, many of our customers are choosing to use Mobile, Online and Telephone Banking more, and branches less." The Santander locations set to close in July are:
The National
8 hours ago
- Business
- The National
I spent all day counting Keir Starmer's 17 U-turns
That didn't mean I didn't have a go at putting a list together, but where to start - the U-turns he made after taking over the Labour leadership and ditching his 10 pledges? Or since he moved into Number 10 just under a year ago, surely that would be an easy list to compile? Well it took me all day, so let's see what the PM has changed his mind on. 1. Welfare reforms After more than 120 Labour backbenchers staged a rebellion by signing an amendment that would kill off the Government's plans to make changes to disability payments that would send hundreds of thousands of people in the UK into poverty, Starmer and his Cabinet agreed to several 'concessions'. Those currently claiming Personal Independence Payments (PIP) and the health element of Universal Credit (UC) will not be impacted by the changes, but future claimants will be. After being forced to make the changes, Starmer said the climbdown was 'common sense' and struck the 'right balance'. READ MORE: Labour rebels urged to 'stand by their conscience' over welfare cuts 2. Winter fuel payment Just weeks after coming to power, Starmer and Chancellor Rachel Reeves announced plans to scrap Winter Fuel Payments for pensioners who do not receive pension credits or other means-tested benefits. This was a bid to save £1.5 billion each year. But, at the start of May, the UK Government changed is position, reinstating the payment, which is worth up to £300, to the vast majority of pensioners who had previously received it, at a cost of £1.25bn. 3. Grooming gangs In January, Starmer refused to hold a national inquiry into grooming gangs, claiming those who called for one were 'jumping on a far-right bandwagon'. Following recommendations in a report by Baroness Louise Casey, the PM announced there would be a full national statutory inquiry, after initially only agreeing to five local inquiries. 'I've never said we should not look again at any issue,' Starmer said when asked about the change. (Image: PA) 4. National insurance and tax rises Labour's 2024 manifesto said that the party would not increase National Insurance, rates of income tax or VAT. Yet, in Reeves's first budget she announced plans to increase the employers' rate of National Insurance. The Government insisted this was not a breach of its manifesto commitments, despite economists arguing that it did. 5. Waspi women While leader of the opposition, Starmer said it was an 'injustice' that a generation of women were impacted by changes to the pension age. Once in office, the UK Government refused to pay out compensation, with Starmer saying he could not afford the 'burden' on taxpayers. 6. Transgender rights In 2022, Starmer said that 'trans women are women', adding that this was defined by law. Following the Supreme Court judgment on the definition of a woman under the Equality Act 2010, Starmer parroted gender-critical language by stating a woman was an 'adult human female'. READ MORE: Will changes on disability benefit cuts affect Scotland? Starmer's 10 pledges Starmer made 10 pledges to Labour party members during the race to succeed Jeremy Corbyn and dropped most of them over time. They were: 7. Two-child benefit cap When Starmer suspended the whip from seven MPs who voted to scrap the two-child benefit cap at the start of his tenure as PM, you would be remiss for thinking this was a long-standing position. But in 2020, Starmer called for the cruel cap to be removed, before changing his position just before the 2024 election. He also said the party would abolish Universal Credit and tuition fees under his social justice pledge. 8. Increase income tax for the top 5 per cent of earners and reverse cuts of corporation tax 9. Put the "Green New Deal" at the heart of his Government's policy. Before coming to power, Labour promised to spend £28bn a year on green investment, before drastically scaling it back. Recently, publicly-owned GB Energy had its funding for clean energy raided, with £2.5bn being given to nuclear power. 10. Putting "human rights at the heart of foreign policy". A top Westminster committee recently wrote to Cabinet ministers over concerns that supplying F-35 jet components to Israel was a breach of the UK's international human rights obligations. 11. Nationalisation of rail, mail, energy and water. While the Government is working to nationalise rail in parts of England, and set up GB Energy, though there is no confirmation it has any employees yet and private companies still dominate the industry and set prices - Royal Mail and water companies remain privately owned. 12. An immigration system based on "compassion and dignity". The UK Government's immigration white paper extended automatic settlement from five years to 10, ended international recruitment of care workers and made tests for foreign students applying to UK universities stricter, among other changes. READ MORE: We investigate the state of the welfare state – read our new series 13. Strengthen worker's rights. Labour rebranded itself as the " party of work" rather than party of workers under Starmer, and watered down its New Deal for Workers. 14. Abolish the House of Lords. This did not happen. Hereditary peers were scrapped, but no radical changes have been made since Labour took over in Westminster. Elsewhere... 15. Bankers' bonuses When short-term prime minister Liz Truss scrapped the cap on bankers' bonuses during those hazy 49 days she was in Number 10, Starmer vowed to reinstate it. Right before the election, Reeves announced Labour had no intention of doing that whatsoever. 16. Farmers Starmer promised a 'new relationship' with farmers in a speech in 2023, but then once in power scrapped agricultural property relief. This means farms, who were previously exempt, with assets more than £1 million will be hit with a 20 per cent levy. 17. Non-Doms Labour were set to abolish the non-dom status. It allows those whose permanent home is outwith the UK to only pay tax on the money they earn here. But at the World Economic Forum in Davos, Reeves said she would 'tweak' the transition period to make it more attractive to the super-rich. It is not surprising Starmer changed position on three policies in the space of a month, it is becoming the defining feature of his leadership of the Labour party. It gives the impression of a man, and a party, easily swayed by big business and the super-rich, who are happy to put the burden of balancing the public purse on the backs of those who need support the most, rather than those who can afford it. It paints a picture of a still out-of-touch Westminster led by a party that promised change, but all it can offer is a man who changes position as often as the Tories used to change prime minister.
Daily Mirror
10 hours ago
- Business
- Daily Mirror
Hundreds of thousands of pensioners face 'new' tax this year
The Chancellor is under fire as hundreds of thousands more pensioners are dragged into the income tax net, thanks to the triple lock and the personal allowance freeze Soaring numbers of pensioners are set to get caught in the income tax net this year – without feeling any richer – as HMRC stats indicate 420,000 more pensioners will pay the tax in 2025-26. Nearly 8.7 million over-65s will be paying income tax, marking a 5% hike from the previous year. The issue stems from the ex-Tory government's move to anchor personal tax allowances at £12,570 from 2021 all the way through to possibly 2028 – a decision that Chancellor Rachel Reeves upheld in her inaugural Budget. This worrying threshold freeze pairs with state pension values climbing almost 30% thanks to the 'triple lock', and that means a substantial number of retirees will now hand over basic-rate tax cash at 20%, despite relying solely on state support. Policy expert David Brooks from Broadstone cautioned in The Times: "While the country's demographic shift naturally increases the number of pensioners liable for income tax, fiscal drag is unequivocally pulling hundreds of thousands more into the income tax bracket each year." In 2021, the full new state pension was at £9,332.20. By April, it had increased to £11,973 - just £597 short of the frozen personal allowance. The Office for Budget Responsibility forecasts that within two years, it will rise again to £12,885.50, surpassing the tax-free threshold by £315.50. Wealth manager Quilter has warned that pensioners receiving the full entitlement - after 35 years of National Insurance contributions - would be taxed £63 a year on their pension alone, without considering any other income such as savings, dividends or rental returns. Critics have long contended that this so-called 'fiscal drag' is a method for the Treasury to gather billions, without outright raising tax rates. Meanwhile, millions of workers are also being pulled into higher tax brackets. The number of Brits paying 40% higher-rate tax is predicted to reach 7.1 million this year, up from 5.1 million in 2022-23 - a 39% increase. Even more remarkable perhaps is the surge in those paying the 45% top rate: 1.23 million people will surrender nearly half their earnings above £125,140 this year, more than double the 570,000 from just three years ago. The number of basic-rate taxpayers has also risen - from 28.8 million in 2022 to 30.8 million today. Neela Chauhan, partner at accountancy firm UHY Hacker Young, said: 'Though it might seem equitable for higher earners to be paying more tax, there are real concerns over the impacts of placing an ever higher tax burden on high earners. 'Increasing the tax burden too high could push these people to leave the country or deter talented people from moving to this country. There are already concerns of a 'brain drain' in the UK.' Rachel Reeves has said the freeze on tax thresholds will end in 2028, however she is now under pressure to continue it through to 2030 in order to head off a black hole in government finances and stick to her fiscal rules.
