Motor rates to harden in tandem with more losses
Next year will see motor rates harden, yet conversely losses will also increase, according to one mo...
Next year will see motor rates harden, yet conversely losses will also increase, according to one motor insurer.
Speaking to Highway's broker forum, underwriting director Dave Murray said the years of recovery, following the market's bottoming-out in 1998, were now well and truly over.
Despite the 'recovery', Mr Murray pointed out this was simply diminishing losses, with the market as a whole only recouping sufficient premiums to cover the cost of claims twice in the past 26 years - in 1994 and
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