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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 […]
New research shows that UK motorists are thinking twice before they drive due to the high price of petrol. Affecting petrol sales. The Department of Energy and Climate Change says that between April and June almost half a billion fewer litres of petrol were sold than during the same period last year. This followed a […]
ABI -propose overhaul of young driver tests including ban on night time driving, restriction on passengers and zero alcohol level New drivers should learn to drive for at least one year, according to insurers. The idea is part of a proposed overhaul of the way young drivers pass their tests, which is being demanded by […]
A new study, produced by the Transport Research Laboratory on behalf of esure insurance, out today exposes the distraction and danger to drivers of just having a mobile phone in the car. A fifth of participants in a simulator situation (20 per cent) moved their eyes from the road for more than seven seconds after […]
In stark contrast to a steady decline in recent years, the number of people killed or seriously injured in a tyre related accident increased sharply in 2011 Tyre death rise reinforces time for a change. The alarming figures released from the Department for Transport, for October’s tyre safety month, reveal that 205 people were killed […]
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 […]
A new study by Lightspeed Research has revealed the extent that British people have taken to make ends meet in today’s challenging economy. The research identified five types of consumer based on their spending behaviour in these straightened times: Business as usual, the lucky few who’ve felt no impact (<8%) Cautious spenders, who don’t need […]
Motorists involved in non-fault accidents should be protected from resulting insurance hikes, Labour announced at Insurance Conference on Friday. Currently, drivers involved in non-fault accidents that weren’t their fault are being punished by high insurance premiums. Even if the at fault driver admitted full liability and met the full costs of repairs, many insurance companies use […]
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