Acturis: Fleet rates see biggest hike in three years
Premiums for fleet motor jumped 4.1% in Q2 2023, according to the Acturis Commercial Lines Index, after a three year period where the sector was largely static or experienced falling rates.
Broker Robert Wright, client relationship director with Specialist Risk Group, said he had seen increases of 5-10% recently, even if there was no previous claims history.
He added matters are worsened by repairers being affected by staff shortages and struggling to recruit. “There is a shortage of parts which has caused parts delays and this has been compounded by the fact that parts suppliers have drastically cut credit limits for some repairers,” he added.
Vehicle shortage“There is also a
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