Motor fleet rate increases on the way
Aon's prediction of Q3 rise hints at hardening market
UK companies renewing their motor insurance policies in Q3 could face increases in premiums with 91% of underwriters predicting a rise, according to Aon's Market Pulse.
This is in stark contrast to the predictions for Q2 in which every underwriter stated there would be no change in rates for this type of cover. As the economic downturn has worsened in the UK, companies have cut back on their motor fleets, spending less on insurance and therefore pushing up rates in order for insurers to remain
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Esure owner Bain eyeing up sale – report
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters.
Moody’s improves outlook for UK property and casualty insurers to stable
Moody’s has changed its outlook for UK property and casualty insurers to stable from negative, noting prices for personal lines cover, such as motor insurance, have risen sufficiently to absorb claims inflation.
Lloyd’s looks to better protect whistleblowers as it consults on misconduct framework
Lloyd’s has begun a consultation as it looks to modernise and streamline its approach to dealing with poor conduct and behaviours in the market including both financial and non-financial misconduct.
Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies.
Arc Legal and HB Underwriting team up to tackle employer’s liability gap
Arc Legal Group has partnered with HB Underwriting to cater for the latter’s policyholders who find themselves as employers because of their care needs.
People Moves: 9 - 13 September 2024
Keep up to date with the latest insurance industry personnel moves.
Peach Pi partners with Starpeak on micro/SME insurance
Starpeak, the specialist digital distributor of insurance to niche online markets, has partnered with commercial insurer Peach Pi to co-create products designed specifically for the micro and SME market.
Markel raids Axa again as it builds out its senior regional UK broker team
Markel has appointed Charlotte Harrison to the role of head of UK regional broker development.