Average car insurance premiums could increase by up to £75 a year as a result of a government ruling, industry experts have said.
www.bbc.co.uk/news/business-39101829
|
>> Average car insurance premiums could increase by up to £75 a year as a result
>> of a government ruling, industry experts have said.
>>
>> www.bbc.co.uk/news/business-39101829
Meanwhile, elsewhere in the jungle, government action is cutting payouts and potentially reducing premiums:
www.lawgazette.co.uk/news/courts-bill-moj-confirms-sweeping-pi-reforms-for-october-2018/5059943.article
And the change to the discount rate will hit the NHS far harder than motorists.
|
....be interesting to see the sums.
At a quick glance, it doesn't look to me that it (anywhere near) adds up.
There's no doubt that changing the discount rate will increase payouts, but only significantly in the case of large, long-term personal injury awards, not in the case of property, etc.
Given that (as far as I can ascertain) these run somewhere less than 10% of all payouts (though if anyone has better info, I'd be prepared to concede) I'd question the figures that are being bandied about.
An (average) increase of £75 over 36M policies would raise some £2.7Bn extra per year, in the order of a third of *total* payouts for *all* claims.
|
Insurance premiums set to soar after compensation - Bromptonaut
