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Crackdown on bogus claims helps insurance costs fall by 12%

CAR INSURANCE premiums have plunged at a record rate of 12% year-on-year amid a tougher clampdown to combat bogus motor accident claims which add to the costs of everyone's policies. The typical quote for annual comprehensive car insurance cover was £568 in October, marking a 4.5% drop on July and a 12.4% fall on a year ago, according to the latest AA Insurance premium index, which takes the average of the five cheapest quotes on the market. This is the biggest annual slide that the AA has on its records, which go back to 1994, and marks a sharp turnaround for motorists following a period of strong increases, with premiums rising by more than 40% just two years ago.

Ron Dennis leaves McLaren F1

Ron Dennis hands over the reins of McLaren F1 to Martin Whitmarsh [ad#ad-1] Ron Dennis has finally had enough of F1. Who can blame him? From the heartache of losing the 2007 championship and a year or more of real grief with F1′s officials, Ron has had enough.

GM technology chief Tom Stephens to retire

Tom Stephens, GM's vice chairman, chief technology officer and former head of global product operations, will retire on April 1 after a 43-year career with the automaker. His successor will be named later, GM said Sunday. Stephens, 63, has served as GM's chief technology officer--a new position--since Feb.