Claims extracted
20
sentences that state something as happening or true
Uncertain
10%
2 of 20 hedged
("reportedly", "may", "according to")
Leaning
withheld
no quote in the article backed the model's score
Publisher signals
67/100
Evening Standard's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
Premium finance gives customers the option to pay for their policy in monthly instalments rather than annually.
asserted
finance → give → instalments
Which? said an estimated 15 million customers across the UK use premium finance to pay for motor insurance.
asserted
customers → say → insurance
The consumer group carried out a mystery shopping investigation, collecting premium finance quotes in August from 30 motor insurance providers, to assess the deals on offer.
asserted
group → carry → offer
The median average APR (annual percentage rate) across 36 quotes analysed in the mystery shopping investigation was 26.2%, although some rates quoted were as high as 50% plus.
asserted
rates → analyse → %
Which? said this compared with around 25.9% for a credit card APR, according to its analysis of Moneyfacts data.
uncertain
this → say → data
Some firms in the Which? insurance research charged 0% APR and some did not provide APR quotes.
asserted
some → charge → quotes
Which? also said firms had told it that premium finance is associated with higher levels of credit risk, and that assessing APR in isolation does not give a complete assessment of the value provided to customers.
asserted
assessing → say → customers
Firms also told Which? that premium finance arrangements were kept under review, to allow APRs potentially to be reduced.
asserted
APRs → tell → review
But Which? argued that motor insurers should be banned from charging extra for monthly payments, as well as being required to offer a pay monthly option.
asserted
insurers → argue → option
Read More
Rocio Concha, director of policy and advocacy at Which? said: “Too many consumers have already been pushed out of driving or into financial peril.”
asserted
consumers → read → peril
She said that a “ban on two-tier pricing for motor insurance” would “create a fairer, more competitive system that doesn’t punish the customers least able to pay”.
asserted
that → say → customers
James Daley, managing director of Fairer Finance said: “It can’t be right that the poorest people in our society are forced to pay the most for their car insurance.”
asserted
people → say → insurance
Graeme Trudgill, chief executive of the British Insurance Brokers’ Association (Biba), said: “Premium finance serves a valuable purpose, helping consumers to spread the cost of their insurance cover.
asserted
consumers → say → cover
“It is important that anyone involved in arranging premium finance can demonstrate that they are offering fair value and that they are transparent about the cost of the finance to their customer.
asserted
they → involve → customer
“The FCA’s (Financial Conduct Authority’s) recent report on premium finance highlighted that typically in the broker market, APRs inclusive of any broker commission is generally comparable to other forms of credit a customer could obtain to pay for their insurance cover.
uncertain
customer → highlight → cover
“We continue to help our members to show that their overall package to consumers offers fair value through our fair value assessment framework and we also have a member guide to refer to when arranging premium finance.”
asserted
we → continue → finance
A spokesperson for the Association of British Insurers (ABI) said: “Many households are under financial pressure, making the protection that insurance provides against unexpected shocks more important than ever.
asserted
insurance → say → shocks
“We know that people value the option to pay monthly to keep their insurance affordable and accessible.
asserted
people → know → insurance
“Providing pay monthly options involves some costs for insurers, including keeping cover in place for a period if payments are delayed or missed.
asserted
payments → provide → period
“When an APR is charged, our members are committed to ensuring it’s fair, transparent, affordable and proportionate for their customers.”
asserted
it → charge → customers
The Aporia
