group travel accident insurance

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Business Travel Accident Insurance

Pairing Coverages for International Travel Learn More

Chubb Accident & Health’s Business Travel Accident Insurance provides accidental death and dismemberment benefits for directors and employees while traveling on company business, at the work site during their job, or on a 24-hour basis for those key employees who must be available at all times to represent their company.

What does Business Travel Accident Insurance cover?

• Benefits can be written based on employee classification on a multiple of salary or flat dollar basis and may include benefits for accident medical expenses, disability, permanent total disability, coma, paralysis and other additional benefits.
• War Risk and Political Evacuation benefits are also available. Other coverage options include traveling in company-owned aircraft, piloting, felonious assault, bomb scare, relocation and coverage for non-employee directors.
• Includes worldwide travel assistance that provides emergency medical, emergency travel, and pre-trip information services.

Client Profile

U.S. companies with a minimum of two employees who travel for business purposes.

The Chubb Advantage

• Innovation: Our entrepreneurial business philosophy and expert industry knowledge allow us to remain flexible in finding the right solution for our clients.
• Global Protection: The Chubb global network can satisfy the insurance needs of companies operating worldwide.
• Financial Strength: Consistently high ratings from A.M. Best and Standard & Poor's are an indication that we are financially strong and able to meet our obligations to our customers.
• Superior Solutions: We are dedicated, solutions-oriented professionals able to provide quick responses and expert handling of customer needs.

Business Travel Accident Product Sheet

Why your business travelers need a travel benefits and risk mitigation program. Learn More

Looking for a Business Travel Accident Insurance Quote?

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Business Travel Accident Insurance

Employers and risk managers recognize the hazards that come with travel and rely on a business travel accident insurance, or BTA, plan to help protect their employees.

Arch Insurance Announces Streamlined Experience for Pricing and Purchase of Business Travel Accident Insurance

Brokers can now rapidly price and purchase Business Travel Accident (BTA) policies for U.S.-based companies with up to 250 business travelers using Arch BTAExpress.

Learn more about this exciting new platform by reading our recent press release.

Arch’s BTA insurance is tailored for corporate travelers.

As businesses expand beyond their normal boundaries of operation, there is an increased need for business travel. Customized solutions are available for multinational corporations, including options that provide coverage for only business travel or a combination of business and leisure travel.

We also offer other Accident Insurance products to help protect employers.

These are important questions that every organization should address before their employees or students leave home:

• What happens if these individuals become ill or are injured during their travels abroad?
• Who will pay for potentially expensive medical bills?
• How will they find appropriate care for treatment?
• How will they communicate in an emergency if there is a language barrier?

Business Travel Accident insurance key features:

• Political, security and natural disaster coverage.
• 24-hour worldwide protection.
• Coverage for corporate owned or leased aircraft.
• Emergency medical evacuation and repatriation.
• Non-employee director coverage.
• Relocation coverage.
• Global travel assistance services including 24-hour multi-lingual call line, pre-trip services and emergency medical assistance.
• Business trip cancellation, interruption and baggage delay.

Business Travel Accident Product Overview

Learn more about our Business Travel Accident program. View product offerings, coverage options, and more.

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Corporate Contact

Senior Vice President, Strategy and Distribution, A&H

+1 908 285 5336

[email protected]

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Accidental Death & Dismemberment Insurance

Accidental Death and Dismemberment (AD&D) insurance provides coverage for tragic events that may result in severe injury or loss of life.

Participant Accident Insurance (Special Risk)

Arch provides accident protection for participants, group members or students taking part in sponsored and supervised activities and events. This may include youth groups, schools, civic and religious organizations and others.

Occupational Accident Insurance

Occupational accident coverage helps protect individuals who may not covered under a workers’ compensation policy, or it can provide supplemental benefits to existing policies.

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Group Accident & Health Insurance

Our Accident & Health policies meet the evolving needs of multinational corporations, small domestic companies, schools, nonprofits, and more.

What is Accident & Health Insurance?

Accident & Health insurance covers work-related accidents and emergencies. These policies often fill gaps not covered by traditional health insurance, so organizations may add this type of coverage for employees with greater risk of injury due to the unique demands of their job. Coverage can also extend to international locations or business travel.

Security issues, medical emergencies, and inconveniences like forced evacuations are all examples of travel-related incidents that can happen anywhere in the world and disrupt productivity. Offering Accident & Health insurance may also attract talent by demonstrating an organization’s commitment to the safety and well-being of the people who work there.

Why choose AIG for Group Accident & Health Insurance?

AIG has 50+ years of pioneering experience in Accident & Health (A&H) insurance. Our clients include schools and universities, nonprofit organizations, multinational businesses, and many other groups with both traditional and hard-to-place risks.

• Through 24/7 access to the AIG Travel Assistance website and mobile app, we provide traveling employees with emergency contacts, travel risk training, important travel security and health information, and country/city guides. 
• AIG is also among a select group of carriers who can structure a BTA Controlled Master Program that includes local policies in countries where required by regulation, and where many clients have exposure.

The AIG Advantage

Unique market partner.

 50+ years of A&H experience as a sustainable broker partner

Innovative Solutions

High-quality policies provided by seasoned, dedicated underwriters

24/7 Global Assistance

 Medical, security, and travel assistance worldwide

Single Point of Contact

 Website and mobile app access for resources before and during travel

AIG Accident & Health Solutions

AIG’s A&H coverage can be customized to address your company’s unique risk factors. We provide innovative solutions for Corporate Accident, Specialty Accident & Health, and Direct Marketing.

A&H Corporate Markets

If you need flexible, reliable accident coverage, and emergency support services for your employees, this is a great place to start. These are comprehensive accident policies for on-the-job, travel, or 24-hour coverage. All policies include 24/7/365 support.

A&H Specialty Markets

If you need tailored coverage for unusual risk factors, these policies cover accidents and out-of-country travel incidents. Specialty Accident & Health can complement your general liability insurance policy by filling in gaps or by offering broader limits. 

Brokers: Meet Your AIG Team

View contact information for AIG’s national product and distribution teams.

The scenarios described herein are offered only as examples. Coverage depends on the actual facts of each case and the terms, conditions and exclusions of each individual policy. Anyone interested in the above product(s) should request a copy of the standard form of policy for a description of the scope and limitations of coverage.

Related Content

Corporate Accident & Health Insurance

Specialty Accident & Health Insurance

Accident & Health Licensing and Appointment Requirements

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How Accidental Death Travel Insurance Works

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Table of Contents

What is travel insurance?

Does travel insurance cover death, how to get accidental death travel insurance, filing a claim, accidental death travel insurance recapped.

Vacations are always exciting. The chance to get out of town, see some new things and explore new places is an opportunity many dreams of. However, traveling is always risky, especially if you intend to undertake activities such as hiking or bungee jumping. Travel insurance can help protect you if things go awry, with coverage such as emergency medical insurance, trip cancellation insurance and accidental death insurance. But do you need travel life insurance — and how does it work? Let's take a look.

There are many different kinds of travel insurance available to customers, and the type you'll need will depend on travel style, destination and how long you'll be away. Generally speaking, here are some of the more common types of travel insurance:

Accidental death insurance .

Baggage delay and lost luggage insurance .

Cancel for Any Reason insurance .

Emergency evacuation insurance .

Medical insurance .

Rental car insurance .

Trip cancellation insurance .

Trip delay insurance .

Trip interruption insurance .

» Learn more: How much is travel insurance?

You'll find a few different varieties of coverage within the broader accidental death travel insurance umbrella. Generally speaking, the way that accidental death travel insurance works is that you'll purchase a policy covering the period that you're away. Then, if a covered accident occurs, you or your designated beneficiary will receive the payout from your insurance company. Despite its name, accidental death travel insurance can cover more than just death. Here are some different types of injuries that your insurance policy may cover:

Loss of life.

Loss of speech and/or hearing.

Loss of thumb and index finger on the same hand.

Loss of hand/s.

Loss of foot/feet.

Loss of eye/s.

The amount you'll be paid will be determined by the policy you've purchased and the extent of your injuries. Depending on your policy, your spouse and unmarried children may also be covered against accidental death. You'll also want to be aware that different accidental death travel insurance policies can cover you at different times. Accidental death flight insurance, as you'd suspect, will provide coverage for you while you're flying. Meanwhile, 24-hour accidental death insurance will protect you anytime during your trip. You don't need to be traveling for your policy to be enacted, though there are certain limitations to this. For example, don't expect to be covered while you're in the middle of skydiving. Finally, common carrier accidental death insurance insures you while traveling on any ticketed public transportation. This can be flights, buses, ferries or even trains.

» Learn more: What to know before buying travel insurance

Just like there are multiple types of travel insurance, there are various ways to acquire accidental death travel insurance.

Buy a policy

Probably the most common option is to purchase a policy for life insurance from an insurance company. Whether you're looking for accidental death insurance or trip cancellation insurance, you can find policies to cover various issues from providers. Before you buy a plan, be sure to gather as many quotes as possible. Different levels of coverage will affect the cost of your policy, as will your age, travel dates, destination and residency. Websites like Squaremouth can help you find the best policy to suit your needs. For example, Squaremouth compares coverages and costs from a wide variety of providers on a single screen as an aggregator. Expect insurance coverage amounts ranging from $10,000 to $1 million.

» Learn more: The best travel insurance companies

Use your credit card

If you hold a travel credit card, you may be eligible to receive accidental death insurance for free. Many different types of credit cards provide trip insurance , including:

Trip cancellation insurance.

Trip delay insurance.

Emergency medical insurance.

Accidental death insurance.

The type of insurance you'll receive will vary greatly depending on which card you hold, so you'll want to read your guide to benefits carefully if this is something you'll be relying on. The Chase Sapphire Reserve® , for example, provides you two types of accidental death insurance. You'll be covered throughout your trip with 24-hour coverage if you charge your travel bookings to the card. The coverage limits and payouts will differ, however, based on when the incident occurs.

Chase's 24-hour travel accident insurance only covers you for the first 30 days you're out of the country.

The Platinum Card® from American Express , meanwhile, will only provide you with common carrier accidental death insurance, though you'll also be covered when en route to and from your common carrier. Terms apply.

» Learn more: The best travel credit cards right now

The process for making a claim on your insurance will vary based on your provider. For example, you may need to contact a benefits administrator or create a file online. Usually, you'll have a specific period during which you must report the incident, file the claim and complete your documentation. Documents that you can expect to turn in with your claim include the following:

Your completed claim form.

A copy of your travel itinerary.

A police report confirming the accident.

A death certificate.

Have a plan for submitting the required documentation ahead of your trip. » Learn more: Does travel insurance cover medical expenses?

Travel insurance, as a whole, can be a good option for you if you're worried about accidents while you're away from home. Along with emergency medical and trip cancellation insurance, accidental death insurance can provide you and your family coverage when things go wrong. Before buying a policy, however, be sure to check if your credit card already provides complimentary travel life insurance. Doing so can save you money while ensuring you're always protected.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are some of the best travel credit cards of 2024 :

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-10x Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

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Group (Travel and Personal Accident)

We understand employees are a company’s most valuable asset.  at aig, we have designed a range of solutions to cover your employees., corporate edge.

AIG's Corporate Edge provides easy and relevant insurance solutions that address the protection needs of SMEs.

Corporate Assist

No new application wef 1 March 2022

AIG offers corporate travel insurance solutions that allow your employees to travel with complete peace of mind. We have an extensive array of plans to suit your employees’ travel requirements.

Corporate First

AIG Corporate First offers Group Personal Accident and Group Business Travel tailored product solutions to meet the diverse needs of businesses of different sizes across all industries – from small and medium enterprises to multinational corporations.  With up to 56 extensions each for Group Personal Accident and Business Travel, your company will benefit from flexible programmes that provide extensive protection options.

GroupPlus is a innovative 2-in-1 Group Personal Accident and Travel Insurance policy.

AIG’s Corporate Edge Group Personal Accident, AIG’s Corporate First Group Personal Accident and Group Plus Group Personal Accident are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact AIG Asia Pacific Insurance Pte. Ltd. or visit the AIG, GIA or SDIC websites ( www.aig.sg  or  www.gia.org.sg  or  www.sdic.org.sg ).

Overview of Travel Insurance Coverage

What does travel insurance cover, what does credit card travel insurance cover, what travel insurance coverage do you need to pay more for, choosing the right travel insurance, what does travel insurance cover frequently asked questions, understanding what travel insurance covers.

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

The information for the following product(s) has been collected independently by Business Insider: Chase Freedom Flex®. The details for these products have not been reviewed or provided by the issuer.

• Travel insurance is intended to cover risks and financial losses associated with traveling.
• Coverage can include trip cancellation, baggage protection, medical care, and emergency evacuation.
• When filing a claim, be specific and comprehensive in your documentation to ease the process.

Whether it's a trip across the world or a trip across the state, having travel insurance provides major relief if things go awry. Flight delays, lost baggage, illness, injuries, and other unforeseen events can disrupt even the best-laid plans. With a major disruption comes the potential for unanticipated expenses.

Travel insurance and the coverage it offers can help keep you protected and save you money in the long run.

Travel insurance policies protect travelers from financial losses should something go wrong during their trip. You can customize which coverages you want to include, and there are several to choose from.

"Common types of coverage include trip cancellation, trip interruption, baggage protection, coverage for medical care if you get sick or hurt during your trip, and emergency medical evacuation," says Angela Borden, a travel insurance expert and product strategist for travel insurance company Seven Corners.

Travel insurance plans offer nonrefundable payments and other trip-related expenses. While monetary compensation is a primary benefit, there is another valuable perk of travel insurance. It can provide peace of mind.

Your specific travel insurance plan (and its terms and conditions) will determine the minutia and specifics of what is covered. As with most other forms of insurance, a general rule of thumb is the more you spend, the better your coverage.

"Travel insurance can be confusing, so it's best to research a reputable company that specializes in travel insurance and has a long history of successfully helping travelers all over the world," says Borden.

Trip cancellations and interruptions

A travel insurance policy can reimburse you for a prepaid, nonrefundable trip if it is canceled for a covered event, such as a natural disaster or a global pandemic.

Trip interruption insurance covers you if you're already on your trip and you get sick, there's a natural disaster, or something else happens. Make sure to check with your travel insurance providers to discuss any inclusions, coverage, and more.

Travel delays and missed connections

Travel delay insurance coverage provides reimbursement for any expenses you incur when you experience a delay in transit over a minimum time. Reimbursements can include hotels, airfare, food, and other related expenses.

Medical emergencies and evacuations

Typically, US healthcare plans are not accepted in other countries. So travel insurance with medical coverage can be particularly beneficial when you are abroad. Medical coverage can also help with locating doctors and healthcare facilities.

Medical transportation coverage will also pay for emergency evacuation expenses such as airlifts and medically-equipped flights back to the US. Out of pocket, these expenses can easily amount to tens of thousands of dollars. Certain plans may even transport you to a hospital of choice for care.

Travel insurance generally does not include coverage for pre-existing conditions. That said, you can obtain a pre-existing condition waiver, which we will talk about later.  

Baggage and personal belongings

Most airlines will reimburse travelers for lost or destroyed baggage, but be prepared for limitations. Travel insurance plans will typically cover stolen items, such as those stolen out of a hotel room. This may not include expensive jewelry, antiques, or heirloom items. Typically, airlines have a few days to recover your bag.

In the meantime, you can make a claim to pay for items like certain toiletries and other items you need to pick up. If your bag is truly lost or you don't get it for an extended period, you can file a true lost baggage claim.

A major perk on several travel credit cards is embedded credit card travel insurance . Typically, you will need to use the specific card for the transaction (at least with partial payment) for travel coverage to kick in.

Each card has specific rules on what exactly is covered. But one of the industry leaders is the $550-per-year Chase Sapphire Reserve credit card. Here's a snapshot of what is covered with this specific card:

• Baggage delay: up to $100 reimbursed per day for up to five days if a passenger carrier delays your baggage by more than six hours.
• Lost and damaged baggage: up to $3,000 per passenger per trip, but only up to $500 per passenger for jewelry and watches and up to $500 per passenger for cameras and other electronic equipment.
• Trip delay reimbursement: up to $500 per ticket if you're delayed more than six hours or require an overnight stay.
• Trip cancellation and interruption protection: up to $10,000 per person and $20,000 per trip for prepaid, nonrefundable travel expenses.
• Medical evacuation benefit: up to $100,000 for necessary emergency evacuation and transportation when on a trip of five to 60 days and traveling more than 100 miles from home.
• Travel accident insurance: accidental death or dismemberment coverage of up to $100,000 (up to $1,000,000 for common carrier travel).
• Emergency medical and dental benefits: up to $2,500 for medical expenses (subject to a $50 deductible) when on a trip arranged by a travel agency and traveling more than 100 miles from home.
• Rental car coverage: primary coverage for damages caused by theft or collision up to $75,000 on rentals of 31 days or fewer

More protections are included with cards with an annual fee, but there are exceptions. The no-annual-fee Chase Freedom Flex, for instance, includes up to $1,500 per person (and up to $6,000 per trip) in trip cancellation and trip interruption coverage.

However, there are some differences between credit card travel coverage and obtaining coverage from a third party.

"Credit card coverage does not typically provide travel medical benefits," Borden says. "For protection if you get sick or hurt while traveling, you'll want a travel insurance plan with medical coverage."

Whether you get your travel insurance in a standalone policy or through a credit card, it's important to review your plan details carefully. In either case, there may be exclusions and other requirements such as deadlines when filing a claim, Borden notes.

Knowing what travel insurance doesn't cover is as important as knowing what it does cover.

"Travelers should understand that travel insurance benefits come into play only if a covered reason occurs," Borden says. Most standard travel insurance plans won't reimburse you for the following:

Cancel for any reason (CFAR)

Cancel-for-any-reason travel insurance covers a trip cancellation for any reason, not just a covered event. your standard benefits won't kick in unless it's a covered event. For instance, you'll be reimbursed simply for changing your mind about taking a trip.

That said, CFAR travel insurance is not without its downsides. For one, it's more expensive than traditional insurance, and most CFAR policies will only reimburse you for a percentage of your travel expenses. Additionally, CFAR policies aren't available for annual travel insurance . 

You can find our guide to the best CFAR travel insurance here.

Foreseen weather events

Sudden storms or unforeseen weather events are typically covered by standard travel insurance plans. There are exceptions to be aware of. For example, an anticipated and named hurricane will not be covered.

Medical tourism

If you're going to travel internationally for a medical procedure or doctor's visit, your travel insurance plan will not cover the procedure itself. Most medical travel plans also won't cover you if something goes wrong with your procedure.

Pre-existing conditions and pregnancy

Those with specific pre-existing conditions, such as someone with diabetes and needing more insulin, will not be covered by most plans. In addition, pregnancy-related expenses will likely not be covered under most plans.

That said, you can obtain a pre-existing condition waiver for stable conditions. In order to obtain a wavier, you will need to purchase travel insurance within a certain time frame from when you booked your trip, usually two to three weeks, depending on your policy.

Extreme sports and activities

Accidents occurring while participating in extreme sports like skydiving and paragliding will typically not be covered under most plans. However, many plans offer the ability to upgrade to a higher-priced version with extended coverage.

Navigating claims and assistance

When a trip goes awry, the first thing you should do is document everything and be as specific as possible with documentation. This will make the claims process easier, as you can substantiate and quantify your financial losses due to the delay.

For example, your flight home has been delayed long enough to be covered under your policy, you'll want to keep any receipts from purchases made while waiting. For instances where your luggage is lost, you will need to file a report with local authorities and document all the items you packed.

Cancellation protection also requires meticulous attention to detail. If you're too sick to fly, you may need to see a doctor to prove your eligibility. If an airline cancels a flight, you'll also need to document any refunds you received as travel insurance isn't going to reimburse you for money you've already gotten back. 

Part of the benefit of CFAR insurance is the reduced paperwork necessary to file a claim. You'll still need to document your nonrefundable losses, but you won't have to substantiate why you're canceling a trip.

Each plan should be personalized to meet the insured party's needs. Some travelers prefer to stick to the bare minimum (flight cancellation benefits through the airline). Others want a comprehensive plan with every coverage possible. Before you buy anything, set your destination. Are there any travel restrictions or changes pending? Does your destination country require emergency or other medical coverage?

If the destination airport is known for lost or delayed luggage, travelers should keep important items in carry-ons. Lost or delayed luggage coverage protects insured parties in the event of a significant delay or total loss.

Second, check current credit card travel benefits to avoid redundancies. Savvy travelers don't need to pay for the same coverage twice.

Finally, consider your individual needs. Do you have a chronic medical condition, or do you feel safe with emergency-only medical coverage? Keep in mind, this does not include coverage for cosmetic surgery or other medical tourism. Do you have a budget limit for travel insurance? Asking and answering these important questions will help every traveler find the right product.

Most travel insurance plans are simple, and Business Insider's guide to the best travel insurance companies outlines our top picks. Remember, read your policy and its specifics closely to ensure it includes the items you need coverage for.

No one likes to dwell on how a trip might not go as planned before even leaving. However, at its core, travel insurance provides peace of mind as you go about your trip. While the upfront cost may seem significant, when you compare it to the potential expenses of a canceled flight, emergency evacuation, or a hefty medical bill, it's a small price to pay in the grand scheme of things.

Coverage for pandemics vary from policy to policy. Some travel insurance companies have specific provisions for pandemic-related cancellations, while others may exclude them entirely.

Sports injuries are often covered under travel insurance, but high-risk or adventure sports might require additional coverage or a special policy.

Travel advisories have different effects on your travel insurance depending on your policy. Traveling to a country already under travel advisory may invalidate your coverage, but if you're already traveling when a travel advisory is announced, you may be covered.

Travel insurance usually covers the cost of emergency medical evacuations to the nearest suitable medical facility, and sometimes back to your home country, if necessary.

Many travel insurance policies provide coverage for the cost of replacing lost or stolen passports during a trip.

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Money blog: 27 areas where Aldi wants to open new stores as a 'priority'

Welcome to the Money blog, your place for personal finance and consumer news and advice. Let us know your thoughts on any of the topics we're covering using the comments box below.

Friday 28 June 2024 04:01, UK

• 'New normal' for mortgage rates won't be below 3.5%, lender boss says
• Free £25 Tesco voucher for energy supplier's customers
• Popular brand explains customer ban after angry backlash

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• Money Problem : 'I bought a new car but it's been back to dealership six times with same fault - what can I do?'
• The cheapest London musicals to see this summer
• Best of the Money blog - an archive

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Every week we take an overview of the mortgage market with industry experts, while the guys at Moneyfactscompare  round up the best rates...

We start this week with the exclusive interview Sky News' Ian King conducted with the chief executive of Lloyds Banking Group - the UK's biggest lender.

Charlie Nunn warned homeowners not to expect a return to the ultra-low interest rates seen for most of the last 16 years.

"We've just come off a decade where mortgages have been in the 1.5-2.5% range," he told King.

"The expectations the market have is that interest rates probably won't get below 3.5%. And that means mortgages, or the new normal for mortgages, will be in that 3.5-4.5% range, not 1.5-2.5%."

Mr Nunn's comments earned applause from brokers and mortgage experts, with the industry news service Newspage speaking to a range of voices...

"I agree with Charlie Nunn: ultra-low interest rates are history. The public is adjusting to the new normal of 3.5% to 4.5% mortgage rates. Nunn's comments highlight market reality and urge borrowers to adapt now." Ranald Mitchell, from Charwin Private Clients

"If you're a first-time buyer, you may not see ultra-low interest rates in your mortgage lifetime. But that doesn't mean a return to good interest rates isn't possible. We should see rates beginning with a 3 or even a 2 in the not-too-distant future, especially for those with good deposits or equity." Ben Perks, from Orchard Financial Advisers

For now, the focus of many mortgage holders has been on when the Bank of England will start easing rates from the current 16-year high of 5.25%.

June had been touted but this month's meeting came and went without a change - and the delay means more people coming off mortgages secured in the ultra-low era are facing significant hikes.

About three million UK households are still set to witness hikes in their mortgage repayments over the next two years, the Bank has said this week.

Its Financial Policy Committee (FPC) added there were likely to be "very large increases" of more than 50% for the mortgages of around 400,000 households.

At the moment, around 35% of households with mortgages, or more than three million, are paying below 3% for a range of reasons - like existing deals which pre-dated the recent crisis - and are expected to see an increase between now and the end of 2026.

A typical household rolling off a fixed-rate mortgage before the end of 2026 is due to face a jump of around £180 a month, the committee said.

There has been some good news for borrowers this week though, with a handful of major lenders cutting rates in response to falling swap rates (these dictate how much it costs lenders to lend).

"Fixed rate mortgage reductions from prominent lenders such as Barclays and HSBC dominated coverage this week, as last week’s inflation announcement continued to prompt speculation of an imminent cut to base rate," says Caitlyn Eastell from Moneyfacts.

Turning to the best deals currently on the market, Ms Eastell says the lowest two-year fix for first time buyers with a 5% deposit comes from Halifax. 

Priced at 5.63%, this deal has a £999 arrangement fee and offers a £250 Green Home cashback incentive to those purchasing eligible properties. 

Moneyfacts also rounds up the best overall deals - looking beyond just the headline rate.

Ms Eastell adds: "As a first time buyer, every penny counts and you may have already exhausted your savings building up a 5% deposit, as well as covering legal fees and removal costs. 

"It's important to consider the true cost of any deal you commit to, so if you are looking to save on the upfront cost of your mortgage, then a Best Buy mortgage may be a more cost-effective choice.

"This week, Hanley Economic BS takes one of the top spots of our Best Buy tables for a two-year mortgage. Priced at 5.69%, it offers a free valuation and £250 cashback incentive."

There could be good news on the horizon for borrowers, as an economist says the Bank of England is likely to cut interest rates in August.

Michael Saunders, a former member of the Monetary Police Committee (MPC), said the Bank has "clearly signalled" it wants to cut rates soon "if data are okay".

He told the Reuters Global Markets Forum that inflation and wage figures would need to align with the MPC's forecasts back in May.

"If so, I would expect the rest of the internal [members of the MPC] to move as a bloc to vote for a cut," he said, saying that markets had been given enough warning.

The BoE  held interest rates  at 5.25% for the seventh time in a row last week despite inflation falling to its target of 2%.

Mr Saunders predicted that the Bank would slash rates seven times in increments of 25 points by the end of next year, bringing the headline rate "close" to what he calls a neutral rate of 3.5%.

"I expect two to three cuts this year, the rest next year - again, depends a bit on the monthly data," he said.

The government has accredited three new forms of ID for purchasing restricted goods and services.

Lloyds Bank Smart ID, Post Office EasyID and Yoti ID can now be used to watch age-restricted films in cinemas, enter gambling premises, or pay for tattoos and tanning salons.

They cannot be used to buy alcoholic drinks in pubs and shops, but are recognised when buying alcohol online, along with tobacco, vapes, lottery tickets and fireworks.

"More UK businesses can now accept our Digital IDs to reduce the risk of fake IDs, increase compliance and improve the customer experience," said Robin Tombs, CEO of Yoti.

He said more than four million people have already downloaded a Digital ID app. 

"This is a strong sign that people are ready to embrace reusable Digital IDs and want a more secure, private and convenient way to prove who they are."

Each of the Digital ID apps includes the approved PASS hologram.

Most of us know the feeling of rushing back to your car when you realise your ticket is about to run out.

The good news is, new rules mean you won't have to race back quite as breathlessly in future.

Drivers are to get a 10-minute grace period when their time runs out at private car parks.

The changes are coming in after industry bodies the British Parking Association (BPA) and the International Parking Community (IPC) published a new code of conduct.

However, the AA said it still leaves room for drivers to be ripped off because it misses out "desperately needed" measures such as a cap on charges.

Read the full story below...

The electric carmaker Tesla is recalling more than 11,000 of its new Cybertruck vehicles after safety regulators found a potentially dangerous fault with its giant windscreen wiper. 

The US National Highway Traffic Safety Administration also said a trim in the boot may be improperly attached. 

"Excessive electrical current can cause the front windshield wiper motor controller to fail," the safety administration said in a recall acknowledgement letter. 

Tesla said it would replace the wiper motor at no cost to owners. 

It comes after nearly 4,000 Cybertrucks were recalled in April to fix an accelerator pedal pad that could come loose. 

Mass production of the vehicle, which starts at a price of $79,990 (£63,130), is expected to start next year. 

It's not yet known how many trucks have gone to consumers, but the Blade Runner-inspired car has been plagued by problems. 

Is your area crying out for a new supermarket to broaden your options and push prices down with a bit of competition?

Last month, the UK’s fourth largest supermarket - Aldi - asked shoppers to get in touch with their views on where it should open new stores.

The discount chain says it received thousands of replies, which it has used to hone its search for new store sites.

At the moment, Aldi has more than 1,020 stores. It says it wants more than 1,500 stores across the UK in the long run.

The 27 areas of priority to Aldi are:

• Woodford, London
• Surbiton, London
• South Croydon, London
• Notting Hill, London
• Walthamstow, London
• Beckenham, London
• Bromley, London
• Barnet, London
• Redhill, Surrey
• Aldershot, Hampshire
• Haywards Heath, West Sussex
• Burgess Hill, West Sussex
• Chatham, Kent
• Cheadle, Greater Manchester
• Chorlton, Manchester
• Formby, Liverpool
• Newark, Nottinghamshire
• Chesterfield, Derbyshire
• Wellingborough, Northamptonshire
• Rayleigh, Essex
• Brentwood, Essex
• Dorchester, Dorset
• Clarkston, Scotland
• Cathcart, Scotland
• Penzance, Cornwall
• Warwick, Warwickshire
• Bath, Somerset

Jonathan Neale, managing director of national real estate at Aldi UK, said: "We want to make high quality food accessible to all, but we can’t do that while there are still some towns and areas that either don’t have an Aldi or have capacity for additional stores.

"We recognise there is huge demand in certain regions for more stores, which is why we decided to get the public’s input on our latest list of priority locations."

Which?, the consumer website and magazine, has ranked Aldi as the cheapest supermarket in the UK consistently this year.

Using a typical list of popular items, Which? ranked Aldi as the cheapest place to shop from January to May - with rivals Lidl coming in second.

However, for a longer list of items and a bigger shop, Asda and Morrisons have typically been the top two for Which? this year.

Customers of both Tesco and OVO Energy are entitled to 2,500 free Clubcard points, the supermarket has announced.

The points can be redeemed as a £25 voucher or at double their value with Clubcard reward partners.

Customers can unlock the points by linking their accounts with both companies.

"The cost of living remains a key challenge for households and our partnership with Tesco is one of the many ways in which we are giving back to our customers with rewards that they can spend how they choose," said Mat Moakes, chief commercial officer at OVO.

New customers can link their Tesco Clubcard account when they sign up as an OVO customer, while existing OVO customers can log into their account, go to their profile, click "our partners", and select the Tesco Clubcard logo.

Want to see a show in London this summer without breaking the bank? 

You're in luck - as new data has revealed the most affordable musicals to see in the capital right now. 

The data, collated by theatre ticket site SeatPlan , shows the most affordable musical to see in London right now is Two Strangers (Carry A Cake Across New York), with the average cheapest ticket price at £17.90. 

The rom-com musical follows a British boy (Dougal), who lands in New York for his dad's second wedding. 

At the airport, he meets the bride's sister, and a quirky, offbeat love story ensues.

Also in the top 10 are Marie Curie The Musical (£20), Guys And Dolls (£23.90) and Sister Act (£26.40). 

Shows are ranked by the average price of the cheapest ticket, with the top ranked show having the lowest price.

On the flip side, the data also revealed the most expensive tickets, by analysing internal pricing data for musicals from SeatPlan.com. 

Musicals including Cabaret (£85.10), Mean Girls (£64.60) and Starlight Express (£43.70) make up this list...

If you've been reassured by positive recent news on inflation and a widely anticipated cut in interest rates later this year, unfortunately the Bank of England has a worrying update for mortgage payers.

About three million UK households are still set to witness hikes in their mortgage repayments over the next two years, the Bank has said.

Its Financial Policy Committee (FPC) added there are likely to be "very large increases" of more than 50% for the mortgages of around 400,000 households.

But the central bank stressed that UK lenders are still in a strong position to support households and businesses, even if the economic backdrop worsens.

The concerning update is in the Bank's latest Financial Stability Report.

It also showed that most households have already had an increase in their mortgage rates since borrowing costs began rising substantially in 2022.

Why is the outlook so bad if interest rates are expected to fall?

Interest rates are at a 16-year-high of 5.25%, with the central bank voting to maintain the figure for a seventh consecutive meeting earlier this month.

But many economists have predicted the base rate could be reduced at the Bank's next vote in August.

However, at the moment, around 35% of households with mortgages, or more than three million, are paying below 3% for a range of reasons - like existing deals which pre-dated the recent crisis - and are expected to see an increase between now and the end of 2026.

A typical household rolling off a fixed-rate mortgage before the end of 2026 is due to face a jump of around £180 a month, the report said.

It highlighted that an "increasing proportion" of households have been choosing to borrow over a longer period of time, reducing monthly repayments but leaving them with more debt to service over time.

Higher mortgage rates have resulted in many households and renters reducing their savings, the Bank also found.

PrettyLittleThing is facing more criticism after announcing it would issue refunds on delivery subscriptions for accounts it has banned for returning too many items.

The online fashion giant says it will refund outstanding gift cards and store credit, as well as £9.99 to closed accounts which had already purchased its royalty service entitling them to unlimited next day delivery for a year.

The company said: "We have noticed an extremely high returns rate from a small pool of customers who have demonstrated behaviours that were inconsistent with what we experience with the rest of our customer base.

"The actions taken are not designed to limit our customers who do need to return or deter them from returning, it was taken to address a small proportion of customers who have a high returns rate."

PrettyLittleThing added it does not plan to close any further accounts.

Some customers were not happy with the response, with one posting on X: "This is bullshit my last return was December 2023... and of course you turned off the comments."

Another wrote: "PrettyLittleThing expects us to order our clothes twice because their sizing is off and is closing people's accounts because of frequent returns. What a way to ruin your own business."

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