Escalating claims decimating UK motor results, says Towers Watson
New figures from the Institute and Faculty of Actuaries have revealed that one in four UK third party motor claims involves a bodily injury element.
While analysis has shown that road usage has fallen to the lowest levels since 2005, the frequency of reported accidents with a third party injury claim has risen by more than 6% per year since 2008.
Towers Watson said the cumulative effect meant that private motor insurers paid out nearly £1.24 for every pound of premium they received in 2010, compared to £1.21 in 2009, based on figures submitted to the Financial Services Authority.
The professional services company said this was despite its
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