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UK insurance price hikes outstrip Europe
- 29/05/2024
- Posted by: Alan Feldberg
- Category: News
Car insurance in the UK has risen far sharper since 2015 than in any other comparable European country. According to analysis commissioned by the SNP, average premiums in the UK have more than doubled in the last decade, with average policies now 102% more expensive than 2015. This compares to a 35% increase [...] -
Automated Vehicles Act receives Royal Assent
- 20/05/2024
- Posted by: Alan Feldberg
- Category: News
Self-driving vehicles could join the UK car parc within two years after the government’s Automated Vehicles Act was passed into law today. The law requires self-driving vehicles to pass rigorous safety assessments before joining UK roads, and stipulates that they must reach at least the same standards set by [...] -
Uninsured driver numbers double
- 20/05/2024
- Posted by: Alan Feldberg
- Category: News
Young drivers convicted of driving without a valid licence has more than doubled in two years amidst escalating premium prices. New research carried out by road safety charity IAM RoadSmart has revealed that 6,316 British drivers aged from 17-20 were convicted of driving without insurance in 2023. That is up [...] -
JLR slashes in-house insurance premiums by 80%
- 09/05/2024
- Posted by: Alan Feldberg
- Category: News
Jaguar Land Rover has announced it will contribute £150 per month for three years towards certain in-house insurance policies. The offer, which effectively cuts the average price of its in-house insurance by about 80%, applies to Range Rovers and Range Rover Sports purchased between 1 May and 30 September and [...] -
Claims costs outstripping premiums
- 29/04/2024
- Posted by: Alan Feldberg
- Category: News
Motor premiums rose one per cent in the first quarter of 2024, although average motor claims were up by eight per cent to an average of £4,800 during the same period. This is according to ABI’s Motor Insurance Tracker, which analyses nearly 28 million policies sold every year and the claims paid against [...] -
ABI to tackle premium finance charges
- 25/04/2024
- Posted by: Alan Feldberg
- Category: News
Members of the Association of British Insurers (ABI) have announced a raft of new principles to manage premium finance charges. Premium finance charges are the fees applied to policyholders who pay for motor insurance monthly. The ABI announced a series of steps to tackle increasing motor insurance premiums in [...] -
Motor insurers report record year of payouts
- 08/04/2024
- Posted by: Alan Feldberg
- Category: News
Motor insurers paid out an average of £1.13m in compensation every hour last year, according to new figures from the Motor Insurance Claims Tracker. It reported that from 2.3 million motor claims submitted last year, the total paid out was £9.9bn, which was 18% more than in 2022 and the highest amount recorded [...] -
ABI announces new motor insurance initiative
- 27/02/2024
- Posted by: Alan Feldberg
- Category: News
The ABI has unveiled a series of steps the industry is taking to combat the rising costs of motor cover. In collaboration with its Consumer Advisory Group, it will commission research into various social policies focused on helping low-income households manage their insurance costs. It has also published a [...] -
Motor insurance prices continue sharp rise
- 05/02/2024
- Posted by: Alan Feldberg
- Category: News
Motor insurance prices jumped another 12% in the fourth quarter of last year, meaning premiums rose by more than 25% over the whole year. According to figures released by the Association of British Insurers, average polices in the last three months of 2023 were £627. This is 12% higher than the £526 recorded in [...] -
ABI updates board
- 08/12/2023
- Posted by: Alan Feldberg
- Category: News
The Association of British Insurers has announced that Amanda Blanc, group CEO, Aviva, Clive Bolton, CEO, M&G Life Insurance, and Tara Foley, CEO, Axa UK & Ireland, have joined the board. The board provides the strategic direction to the Association’s work, chaired by Baroness Nicky Morgan. The [...]