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Artificial Intelligence Authors: Yeshim Deniz, Zakia Bouachraoui, Elizabeth White, Pat Romanski, William Schmarzo

Blog Post

Driving Instructor Insurance

Insurance companies stopping the underwriting of private motor insurance.

The UK motor market is in turmoil, i have never know such a bad period when such large insurance companies are taking the view to not just pull back on writing unprofitable schemes but to cull the whole sector.

Major insurance providers such as HSBC and NIG have rolled the dice and decided that they no longer are going to write any private motor insurance in the UK.

Other insurers to either have stopped writing motor insurance or to have cut back include Chartis, Highway which is now Liverpool Victoria along with a string of Delegated Authority schemes from the likes of Aviva.

With the average private motor insurance policy now being around £600 a year and the view of insurers that they won’t return to profitability before 2015 it makes you wonder where the annual insurance premium is going to stop.

It seems though that it is us to blame for following the United States crash for cash it does seem that everyone automatically gets an injury claim these days regardless of if they have suffered genuine injuries or not. Hopefully this will reduce as claims management companies come under more scrutiny and regulation.

I fear 2011 is going to be an interesting year watch this space.

More Stories By Symon Weedon

Symon Weedon Cert CII is the Marketing Manager of Waveney Group Schemes Ltd a specialist insurance broker proving insurance for driving instructors and driving schools. He has worked in the insurance broking market for over 14 years holding a range of marketing positions and has studied his insurance exams with the Chartered Insurance Institute obtaining the designatory letters Cert CII. Waveney Group Schemes Ltd is Authorised And Regulated by the Financial Services Authority