Viewpoint: Time to put things right
With poor motor results continuously dismissed as being due to external factors, David Vine asks why insurers choose to ignore the evidence that would enable accurate pricing and, in turn, profit.
Who would pay to go to work? Bizarrely, private motor remains a part of a sector that has lost insurers' money pretty much consistently over the past 20 years. Despite this, they lay the blame at the door of a range of external factors, rather than admit their losses result from poor underwriting, chasing volume business and failing to implement premium increases.
With the knowledge underwriters have, coupled with sophisticated systems, it should not be too difficult to get pricing right - and
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