![]() |
The cost of motor insurance was under the spotlight in a BBC One Panorama programme titled ‘The Great Car Insurance Swindle' which aired last night (12/07). The programme used examples of a number of issues that are impacting on premium costs including fraud, increased volumes of personal injury claims and referral fees. Reviewing the programme, Tom Moss, Director -Technical, Allianz Retail, said: Last night's Panorama programme provided a fair and balanced overview of some of the key issues that are contributing to the rising costs of motor insurance in the UK. As it rightly pointed out, the personal motor market has not made a profit for several years as the increase in fraudulent activity, rising frequency and cost of personal injury claims and a surge in credit hire fees, have outstripped premium incomes. This is clearly unsustainable and has meant that many insurers have had to take corrective action with their pricing which has led to the dramatic increases in premiums that some consumers are currently witnessing. The programme successfully highlighted the current issue around referral fees which we believe will only be effectively eradicated if there is a market-wide solution via regulation or some other mandatory instrument. This regulation needs to be drawn broadly enough to prevent current payers of referral fees adjusting their business models to achieve the same effect as today via a different mechanism. |
|
|
|
Consultancy Bonanza! | ||
UK-wide / London / hybrid - Negotiable |
Service Delivery Manager - Pensions | ||
Scotland / remote / 2 dpm in the office - Negotiable |
Life Actuarial Student – Risk | ||
Glasgow / hybrid 2 dpw office-based - Negotiable |
Senior Investment Analyst | ||
London / hybrid - Negotiable |
ALM Strategy Specialist | ||
Bermuda - Negotiable |
Senior Casualty Reinsurance Actuary | ||
London - £140,000 Per Annum |
Senior Pensions Administrator - Midlands | ||
Birmingham / hybrid - Negotiable |
Senior Pensions Administrator - Scotland | ||
Scotland / hybrid 2 days per month office-based - Negotiable |
Investment Analyst | ||
South East / hybrid - Negotiable |
International Capital Management Actuary | ||
Bermuda - Negotiable |
VP Reserving Actuary | ||
London - £150,000 Per Annum |
Calling all BPA analysts! | ||
North West / hybrid 50/50 - Negotiable |
Financial Planning & Analysis Actuary | ||
London/Hybrid - Negotiable |
Apply Your Doctorate to Technical Pri... | ||
Fully remote / nationwide / hybrid working options all available - Negotiable |
Senior Investment Manager | ||
London / hybrid - Negotiable |
P&C Consultant | ||
London / hybrid 3dpw office-based - Negotiable |
Senior Pricing Actuary | ||
London - £140,000 Per Annum |
Actuarial Pensions Manager | ||
Flex / hybrid 2-3 dpw office-based - Negotiable |
Financial Reporting in beautiful Bermuda | ||
Bermuda - Negotiable |
Make a difference within BPA Administ... | ||
North West / hybrid 50/50 - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.