EMB: Floods will cause 10% motor premium rise
Europe's largest firm of non-life actuaries, EMB, claimed that motor insurance premiums would increa...
Europe's largest firm of non-life actuaries, EMB, claimed that motor insurance premiums would increase by 10%. Motor insurers are not charging sustainable premium rates, said EMB, adding that many insurers had used the profitable premiums from home insurance to cross-subsidise their motor books. Payouts from the floods would reduce this extra capital, forcing insurers to charge more for motor quotes, EMB concluded.
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