Motor fleet rate increases on the way
Aon's prediction of Q3 rise hints at hardening market
UK companies renewing their motor insurance policies in Q3 could face increases in premiums with 91% of underwriters predicting a rise, according to Aon's Market Pulse.
This is in stark contrast to the predictions for Q2 in which every underwriter stated there would be no change in rates for this type of cover. As the economic downturn has worsened in the UK, companies have cut back on their motor fleets, spending less on insurance and therefore pushing up rates in order for insurers to remain
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