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Car insurance: An EU ruling means insurance companies must end gender discrimination, and female drivers under 40 will be hit hardest Testosterone-fuelled young males are, all the statistics suggest, a danger on the road. Thrill-seeking young men are prone to drive too fast, late at night, and cause horrific fatalities. Young males are 10 times […]
Industry backs reform of ‘dysfunctional’ market that adds millions to repair bills. Car insurers have welcomed the news that their industry is being referred to the Competition Commission. Despite accusations that the £9bn market is “dysfunctional”, the Association of British Insurers (ABI) said the investigation would “bring much-needed reforms to the market that will, in […]
Two million face a bill for thousands if they breakdown abroad Almost two million motorists risk being thousands of pounds out of pocket when they venture abroad without breakdown cover. Research from Britannia Rescue shows 4.27million people plan to drive in Europe this summer and nearly four in ten (39%) will hit the road with no […]
Moodys – OFT referral to the Competition Commission will hurt motor insurers profitability Moody’s (the leading credit ratings agency) has warned that the Office of Fair Trading’s (OFT) move to refer the private motor insurance market to the Competition Commission will “hurt profitability” and “create uncertainty”. Moody’s associate analyst Helena Pavicic wrote in a research […]
Young drivers who insure themselves through schemes incorporating in-car telematics are a third less likely to have an accident in their first year of driving than the national average. Young Marmalade, which specialises in keeping young drivers safe, is predicting less than 6% of new drivers insured under their Intelligent Marmalade scheme (which is still […]
“The RMI’s National Association of Bodyshops (NAB) welcomes the OFT announcement that it is referring the private motor insurance market to the Competition Commission for investigation,” said Tony Lowe, RMI Board Member and NAB Executive Member. The OFT has decided to refer the market to the Competition Commission after a market study gave it reasonable […]
It has recently been announced by MoneySupermarket that car insurance premiums have fallen by around 10.6%, on average, since last year. MotorQuoteDirect, a leading car insurance website, has also taken a look at the average price of motor insurance quotes and has found that there has been around an 11% decline, on average, in the […]
