The average claim value reached a record high. As expected, the number of motor insurance claims notified to insurers in the second quarter of the year fell significantly according to figures out today from the Association of British Insurers (ABI). The fall largely reflected the lockdown period, when far fewer vehicle journeys were made. Claim […]
UK Insurers Report Collision Repair Costs Up 5% in 2018
Motor insurance pay-outs so far this year have reached a record level with over £23 million ($29.5 million) being paid every day, according to figures out today at the ABI’s Motor Conference. The pay-outs cover theft, own vehicle and third-party property damage, as well as personal injury compensation. Rising repair bills and theft claims are […]
Thatcham Research and ABI Say Carmaker Use of the Word ‘Autonomous’ Dangerous
Thatcham Research and the Association of British Insurers (ABI) issued an urgent call to carmakers and legislators for greater clarity around the capability of vehicles sold with technology that does more and more driving on behalf of motorists. The call comes in the wake of growing reports of people crashing while over-relying on technology which […]
Cost of Car Insurance in UK Costs 10% of a Young Driver’s Salary
Growth of injury claims and taxes drive higher costs for young people. All their salary for the year to date would go to pay auto insurance premiums. The Association of British Insurers (ABI) reported further evidence of the need to tackle rising motor insurance premiums – the cost of car insurance now gobbles up 10 […]
UK Insurance Association Calls for International Crash Data Standards for Autonomous Vehicles
Association of British Insurers and Thatcham call for standardized data set to help with liability assignment after a crash by an autonomous vehicle and to improve vehicle manufacturer systems. British insurers are leading efforts to have a standard set of data agreed at an international level which would be easily available in the event of […]