UK fourth quarter motor insurance premiums fall 1.3 percent – survey

UK

[ad_1]

LONDON (Reuters) – The cost of a comprehensive motor insurance policy fell 1.3 percent on average in Britain in the fourth quarter from the previous quarter, though premiums rose 8 percent for full-year 2017, a survey said on Monday.

The average premium for a comprehensive policy is now 827 pounds ($1,146), according to the latest index from price comparison site Confused.com, compiled by Willis Towers Watson.

Premiums have fallen for the past two quarters after Britain said it planned to change the way personal injury lump sum payments are calculated, a move which would cut the size of those payments.

Motor insurers took a hit to profits and insurance premiums rose earlier this year after Britain made an unexpectedly large change to the existing discount rate.

Reporting by Carolyn Cohn; Editing by Adrian Croft

[ad_2]

Source link

Loading...

Articles You May Like

Competition watchdog lifts measures on Grab as private-hire regulatory framework takes effect
Commentary: Retail isn’t dead – look at snaking queues outside Apple stores
US Navy admiral makes unannounced visit to Taiwan, sources say
Malaysia reports record 1,884 new COVID-19 cases following spike in workplace cluster infections
South Korea to close bars, restrict restaurants and churches amid COVID-19 spike

Leave a Reply

Your email address will not be published. Required fields are marked *