The ABI claim that the industry must stop rogue claims management firms
Motor insurance premiums continue to rise, as the industry braces itself for the IPT hike due on November 1, claims the ABI.
According to the industry body’s Motor Insurance Premium Tracker, the average price paid for comprehensive motor insurance between July and the end of September was £379, a slight 1.3% rise from £374 the previous quarter.
The study also found that motor premiums had increased by 5.6% on the same period last year.
ABI manager for general insurance Rob Cummings said: “Motorists continue to benefit from a competitive motor insurance market and can shop around to get the best deal. But mounting cost pressures are inevitably leading to higher premiums.
“With the introduction of the higher rate of Insurance Premium Tax in November set to push up average premiums, the need to tackle rogue claims management firms is vital.