Rising cost of motor insurance
The House of Commons Transport Select Committee was taking
evidence last week on the rising costs of motor insurance. The
committee is looking at both the causes and consequences of this
trend, which has seen premiums rising by an average of 40% in the
last year.
A number of witnesses giving evidence have attributed the rising
costs of motor insurance to 'no win, no fee' solicitors encouraging
personal injury claims, and to increasing requests for replacement
vehicles and the demand for these to be a 'like for like'
replacement.
The next steps will be for the committee to put forward
recommendations to government on what steps it could take to reduce
the impact of the rising costs of motor insurance.
Source: BVRLA (http://www.bvrla.co.uk/News/Press_Releases.aspx),
15/11/10.
< Back to
news
Use the navigation provided to search for other services provided by the Turner Group >