HSBC

Iceland ash cloud 2011: Which insurance companies paid out last time?

Iceland's airports were closed and domestic flights cancelled yesterday as a spectacular 12-mile high mushroom cloud of ash, steam and smoke filled the sky.
Last year's Iceland ash cloud caused many Britons to check their travel insurance policies for an eventuality that few had previously considered. So, few could have imagined that the industry would have to deal with a similar episode so soon after the first with forecasters warning that the plume from the Grimsvotn volcano could be blown to northern Scotland tomorrow, and the rest of Britain by Thursday.
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HSBC share price down on FTSE 100 as Q1 profits fall

Shares in British banks were down on the FTSE 100 in morning trading after HSBC issued a disappointing set of Q1 results and said it would be taking a hit as a result of a need to compensate customers who were wrongly sold payment protection insurance.
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