Cuckoo, cuckoo
With a strengthening aggregator market and little left in the reserves tank, insurers are being advised to reconsider their approach to motor rates. Liz Booth explains that it is time they stopped living in cloud-cuckoo-land
Datamonitor recently suggested that the UK's private motor underwriting book will return to profit in 2009, but some insurers fear this could be more a case of wishful thinking than anything else. AA Insurance was among the first to doubt the claims, and many have followed suit, as the concern is that it may take longer than anticipated and a considerable hike in rates to achieve a profit.
Unfortunately, Naeem Ali, senior consultant at EMB, believes the figures support the latter view. "For the
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