Changing gear?
Unlimited third party requirements continue to cause problems for the UK motor market, despite EU proposals. Chris Hill explains
Recently, third party property damage and personal injury limits have been causing problems in the motor insurance industry, though the impact of the European Union Commission's draft Fifth Motor Insurance Directive is unclear.
The Directive proposes minimum compulsory third party liability amounts of EUR1m per victim, EUR10m per accident for property damage, EUR10m per accident for personal injury and EUR500,000 per victim. This all seems within the tolerance limits of the UK market
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