Deloitte says industry must address issue of brokers selling motor at a loss
Motor insurers need to increase their premiums while maintaining their customer base in order to return to profitability, according to Deloitte.
Ian Clark, insurance partner at Deloitte said personal lines brokers operating through aggregators often sold motor policies at a loss in order to generate revenue from ancillary products, cross-selling other types of insurance and claims referrals.
"While good news for consumers in the short term, this is a key challenge that the industry will have to address," he added.
While Deloitte's analysis suggested there would be further losses in 2010, it said if insurers were successful in putting key
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