Motor insurance rates have hit a plateau says Datamonitor report

Motor insurance rates will remain flat and highly competitive in 2005 but there is no danger of another price war, according to Datamonitor's UK Motor Insurance 2004/5 report.

James Greenwell, financial services analyst at Datamonitor and author of the report, said he expected growth to range between -3% and 0% this year as insurers strive to hold onto existing customers and attract new business with innovative pricing deals in an increasingly competitive market.

He said: "With the emergence

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