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TMCNet:  Insurance firms must get it covered [Sunday Mirror (England)]

[December 22, 2013]

Insurance firms must get it covered [Sunday Mirror (England)]

(Sunday Mirror (England) Via Acquire Media NewsEdge) WITH all those expensive TV ads for car insurance comparison sites, we knew someone was making plenty of money. The UK insurance industry claims that it loses money on motor cover, paying out more than it claws back. A report this week from the Competition Commission says that the Pounds 11billion a year UK car insurance market needs to be more transparent.


Many repairs aren't completed to the required standard, there's not enough competition and the UK's 25million privately insured drivers could be paying an extra Pounds 200million a year because of the unnecessarily high cost of courtesy cars and repairs.

Consumers also need clear information on best deals and offers. Insurance companies often just roll over when faced with whiplash scams, plus there are too many accident management companies making too much out of dubious claims. It really is time the insurance industry put its house in order.

(c) 2013 ProQuest Information and Learning Company; All Rights Reserved.

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