Motor market losses will hit £2bn by 2000.
Actuary Bacon & Woodrow has warned UK motor insurers to brace themselves for underwriting losses of ...
Actuary Bacon & Woodrow has warned UK motor insurers to bracethemselves for underwriting losses of £2bn before the year 2000.
Despite premium increases throughout 1998, the actuary has told the market
that losses are inevitable as a result of rising claims costs. Much of
this increase is due to an increase in the number of personal injury
awards, reflecting the rise in litigation in the UK.
Nigel Munn, senior consultant at Bacon & Woodrow, said: "Premiums require
an immediate increase of 20.7% to
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