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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 [...] -
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 [...] -
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 [...] -
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 [...] -
Go.Compare announces Coplus partnership
- 09/05/2023
- Posted by: Alan Feldberg
- Category: News
Go.Compare has partnered with specialist ancillary insurer Coplus to support the comparison site’s £250 free excess offer for motor insurance customers. The offer was originally launched in 2019 and is currently available to all customers who purchase a car insurance policy via Go.Compare. It means that [...] -
Price hikes continue for motor insurance
- 15/02/2023
- Posted by: Alan Feldberg
- Category: News
Average motor insurance premiums rose by eight per cent in the fourth quarter of last year, driven by rising costs in energy and materials as well as continued part delays. According to the Association of British Insurers' latest Motor Insurance Premium Tracker, average premiums increased to £470, which is seven [...] -
Soaring premiums to continue rising
- 31/01/2023
- Posted by: Alan Feldberg
- Category: News
Car insurance premiums saw the biggest annual rise in six years in 2022. According to the Confused.com Car Insurance Price Index in association with WTW, average comprehensive premiums rose by 19% last year to an average price of £629. The sharp rise was capped by a seven per cent increase in the last three [...] -
EMaC appointment enhances Scotland focus
- 04/01/2023
- Posted by: Alan Feldberg
- Category: News
EMaC has promoted John Glancy to the role of national sales manager for Scotland. He joined EMaC in 2016 as a sales development manager and has played a pivotal role onboarding new clients and successfully promoting the company’s range of aftersales solutions, including their most recent product offering [...] -
Stolen vehicles sold on at cut prices
- 16/11/2022
- Posted by: Alan Feldberg
- Category: News
New research commissioned by Direct Line Motor Insurance has revealed that car thieves sell vehicles on for about just five per cent of their value. Interviews with car thieves found that £2,000 is a typical price for a popular performance car valued at about £40,000, while a less popular car worth £20,000 would [...] -
ABI calls for IPT freeze
- 15/11/2022
- Posted by: Alan Feldberg
- Category: News
The Association of British Insurers (ABI) is urging the Chancellor to freeze the rate of Insurance Premium Tax (IPT) in the Autumn Statement, which will be delivered on 17 November. It says a hike in IPT could lead to people cutting back on insurance cover. This comes after research from Public First, [...]