AA: Car insurance premiums rising
www.moneynews.co.uk > Insurance > AA: Car insurance premiums rising
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AA: Car insurance premiums rising
Thu 15th Jan 2009
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According to the organisation's latest British Insurance Premium Index, the car insurance premiums rose by an average of one per cent during the last quarter of last year.
Simon Douglas, director of AA insurance, said that he expected the trend to continue, as the costs insurers face are increasing.
Mr Douglas said: "Personal injury claims and their associated legal expenses rose by around 22 per cent last year to about £6.16 billion and are expected to hit £10.9 billion by 2012."
He added: "Capital is also scarce within the current economic climate and some insurers will need to respond by reducing the amount of capital they have tied up in their business."
Recently, Norwich Union released data which showed that January sees a higher number of car insurance claims than any other month on average.
Click here for more insurance news
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Related News : AA |
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