Arriving at a crossroads.
The mixed blessings brought by high rates and high premiums, coupled with concern over phase two of the Motor Insurance Database, are leaving brokers feeling unsettled. Simon Threadgold explains the likely direction the market will take.
Private car rates are levelling out, according to the lateststatistics from AA Insurance Services. In the first quarter of 2002
premiums for comprehensive cover went up by only 0.9%, bringing the
average increase for the past year to 5.6%. This is a welcome relief for
motorists after the stinging increases of 19% in 2000 and 9% in 2001.
AA research puts the current average comprehensive premium at #676 but
non-comp premiums have been going up at a faster pace. The past year has
seen a 7.4%
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