Rise in claims push motor reinsurance rates up 50%
More severe claims frequency and an increase in periodical payment orders have contributed to UK motor reinsurance rates leaping by as much as 50% at the 1 January renewals on a rate-adjusted basis.
According to Chris Klein, managing director, director of reinsurance market management at Guy Carpenter, rising insurance premiums in this sector have also had wider implications.
"In the UK, those
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