Motoring along

Insurers need to think carefully before introducing private car profit sharing, explains Tony Cornell.

There has been some recent talk of profit sharing deals being considered for brokers in the private car broker market. Aviva are said to be actively thinking about these and, if the market leader does go ahead, then others are likely to follow. Recent competition has been fierce with the rise of aggregators. There has been under reserving, increasing fraud and claims chasing, and these factors have resulted in heavy losses.

Thankfully, rates started rising last year. There has been a realistic