Motor premiums - Allianz update

Following news from the ABI that the 'average motor premium paid rose by 9% in 2017 to a record high, adding an extra £40 to the average motor insurance policy.'

General manager, Commercial & Personal Simon McGinn commented:

“With no sign of any movement on the discount rate in 2018, and quite possibly even 2019, this is a very concerning time for customers. We will be having discussions with the broking community about how best to effectively manage the rising costs of personal injury claims. Customers who read about rising insurance costs need to be made aware that the industry is robustly putting across the case for the government to take action.”