• FCA announces insurance crackdown
    • 21/09/2023
    • Posted by: Alan Feldberg
    • Category: News
    The Financial Conduct Authority has told motor insurers they are falling short of new Consumer Duty regulations and warned them to improve services within three months or face penalties. In a letter to insurers, it has asked them to check if their policies are offering value for money after identifying cases where [...]
    read more

  • Motor still dominates fraudulent claims
    • 23/08/2023
    • Posted by: Alan Feldberg
    • Category: News
    New figures have revealed that motor insurance accounted for the majority of fraudulent claims uncovered last year. According to the Association of British Insurers, 72,600 fraudulent claims were detected last year, representing a fall of 19%. But 42,500 of these (59%) were motor claims. Meanwhile, the number of [...]
    read more

  • Vehicle break-ins spike over summer
    • 16/08/2023
    • Posted by: Alan Feldberg
    • Category: News
    New research has found that on average 1,112 cars in the UK were broken into every day last year – that equates to one break-in every 79 seconds. The research provided by A-Plan Insurance analysed the latest ONS police-recorded vehicle crime figures across England and Wales and revealed that there were 405,872 [...]
    read more

  • NBRA: premium hikes were inevitable
    • 15/08/2023
    • Posted by: Alan Feldberg
    • Category: News
    The National Body Repair Association (NBRA) has said the 21% annual rise in motor insurance premiums is not surprising. Board member Wayne Mason-Drust said: “For almost a decade, the cost of repairing a car following an accident has increased far below inflation. Car insurers have tightly controlled repair costs [...]
    read more

  • Premiums soar to record high
    • 11/08/2023
    • Posted by: Alan Feldberg
    • Category: News
    The Association of British Insurers has reported that average comprehensive motor premiums have risen to record highs. Its premium tracker analysis 28 million motor insurance policies in the UK and found that the average premium paid for private comprehensive motor insurance was now up £511. This is up seven per [...]
    read more

  • Durite names new fleet consultant
    • 05/07/2023
    • Posted by: Alan Feldberg
    • Category: News
    Vehicle safety, lighting and auto electrical parts supplier Durite has appointed a fleet consultant to support transport operators and work closely with insurance and industry bodies. Adam Wild brings extensive experience in video and telematics applications, a track record in making fleets safer and more [...]
    read more

  • Vehicle theft bill soars to £1.54bn
    • 22/06/2023
    • Posted by: Alan Feldberg
    • Category: News
    Claims Management & Adjusting (CMA), the UK’s oldest specialist motor insurance loss adjuster, estimates that vehicle thefts are now costing UK insurers £1.54bn a year, with a further decline reported in the stolen car recovery rate. CMA managing director Philip Swift said: “Vehicle theft costs to UK [...]
    read more

  • ABI data reveals surge in motor claims
    • 08/06/2023
    • Posted by: Alan Feldberg
    • Category: News
    Data from the Association of British Insurers have revealed that payouts for motor claims have risen by 14% in the last year to £2.4bn. This is 11% up on the final quarter of 2022 and the highest amount recorded by the ABI since it started keeping records in 2013. Insurers settled 599,000 claims in the first [...]
    read more

  • Synetiq accelerates claims times with new service
    • 22/05/2023
    • Posted by: Alan Feldberg
    • Category: News
    Synetiq, an IAA company, one of the UK’s leading integrated vehicle recycling companies has launched a new supply and fit service to support insurance clients facing increasing claims in catalytic converter theft. The service has been introduced to help reduce vehicle off-road time for policy holders after [...]
    read more

  • Motor insurance up 16%
    • 12/05/2023
    • Posted by: Alan Feldberg
    • Category: News
    The ABI’s latest Motor Insurance Premium Tracker has revealed that the overall average premium paid for private comprehensive motor insurance was £478, up two per cent on the previous quarter and 16% higher than the same period in 2022. The average price paid by motorists renewing their cover rose by £8 to [...]
    read more