Insurance Post

Motor players facing 2013 profitability slump, claims report

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Motor insurers are being dragged further away from profitability as a result of a combination of competitive pressure on pricing and firms over-estimating the impact of cost savings arising from civil litigation reforms.

According to the 2013 UK Motor Insurance Industry Report by Towers Watson, motor players look set to preside over a year of under-performance - having succeeded in cutting underwriting losses in 2012

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