UK Insurers Say Drop In Motor Claims Offset By Rising Costs

Law360, London (September 2, 2020, 12:02 AM BST) -- The U.K.'s insurance lobby said Wednesday that while motor insurance claims almost halved during the lockdown, the average cost of compensation has risen to record levels.

The Association of British Insurers said because of fewer cars on the road, the number of motor insurance claims during the second quarter was 324,000, down 48% from the 678,000 in the first three months of the year.

But the value of the average claim rose by 27%, the trade body said, owing to rising car repair and personal injury costs.

"With the average price of motor insurance currently at a four-year low, insurers have...

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