Vehicle recovery costs set to soar

Norwich Union (NU) is calling for stricter and more controlled statutory charges following recent Home Office proposals to hike costs for removing vehicles from the highway under police powers.

Phil Gledhill, claims technical manager at NU, said: “The current statutory charge for removing a vehicle is a flat fee across all vehicles of £105, and there was general understanding and acceptance that £105 is insufficient to cover costs to recover vehicles ranging from small motorcycles to articulated lorries. However, the changes look like they will drastically increase recovery costs for insurers and it is likely that all road users will be paying more. Not all recoveries are insurance

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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