Datamonitor's claim unlikely to be realised
Datamonitor's claim that the UK motor insurance industry will make a profit in 2009 is unlikely to b...
Datamonitor's claim that the UK motor insurance industry will make a profit in 2009 is unlikely to be realised, according to AA Insurance. Andrew Strong, its chief executive officer, said: "The cost of damage to property and vehicles has risen by around 5% per year. On top of that, we are seeing personal injury claims continuing to increase by 10% per year as accident victims are more willing to make claims. In order to reach profitability by 2009, premiums will have to rise by at least 20%
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