Motor Insurance Hits 2-Year Low Ahead Of Whiplash Reforms
Law360, London (April 29, 2019, 5:54 PM BST) -- The average cost of motor insurance has slipped to its lowest level for two years, due largely to an impending crackdown on fraudulent whiplash claims contained in new legislation, the Association of British Insurers said Monday.
Premiums have slipped to £466 ($603), the lowest quarterly figure since the £464 recorded in the first quarter of 2017, ABI spokesman Malcolm Tarling told Law360. The latest prices were also down £15 on the fourth quarter of 2018 and marked the largest quarter-on-quarter fall since 2013, the lobby group said in a statement.
The decline comes after Parliament voted through the Civil Liability Act...
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