The biting petrol blockade could produce a £60m windfall for motor insurers, an insurance expert claims.
Motor claims are running at 75,000 per week according to the Association of British Insurers, and are expected to fall dramatically as petrol becomes scarcer.
Nigel Munns, actuarial consultant at Bacon & Woodrow, has calculated that the insurance industry will save 1% on its annual £6bn claims bill for each week the blockade succeeds in reducing car mileage by 50%.
The saving to insurers this week could be £60m.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
