The devastating summer floods, which caused the insurance industry as a whole to lose around £3 billion has been blamed for a bank's general insurance losses.

Halifax Bank of Scotland (HBOS) has just released figures showing that its profits fell by 24 per cent last year to £232 million compared to £304 million in 2006.

The bank reports that overall, general insurance sales, as measured by gross written premiums, fell by one per cent.

Meanwhile, both motor and household sales were up, 12 per cent and five per cent respectively.

In a statement, HBOS added: "Growing our share of the household insurance market is an important strategic priority allowing us to leverage our market leading mortgage position."

HBOS is predicting that the current credit crunch crisis, which has already led to them writing off some significant losses in the sub-prime market, will continue well into 2008.

Home insurance policy holders living in Surrey may welcome news police in the area have launched a crackdown on burglary.The force explained although break-ins were not a major problem in the area, it...

Householders who leave keys in places where they can be seen by passers by could be increasing the likelihood they will have to make a home insurance claim, it has been suggested.Police in Stonesfield...

Home insurance customers in Huddersfield are being offered help that could reduce their chances of having to make a claim.West Yorkshire police announced people visiting the Armitages Garden Centre in...