How Time Flies

[Hymie]

Here we go again – I can’t believe that it was a year since I commented on the annual press release from the insurance industry, crying in their beer over increased costs/claims, which unfortunately have to be passed on to us mugs – I mean, the general public.

http://www.dailymail....toring-insurance.html

[Count-A-Strong]

Bit of a vicious circle going on. Higher costs=more people tempted to obtIn fraudulent insurance or drive around without any.

[factor-fiction]

Whilst premiums do seem to increase significantly there are so many companies out there and so many price comparison sites that it is a very competitive market. I find it difficult to see how car insurance can be profitable given that a tiny bump can cost several hundred pounds and any accident involving personal injury can cost thousands. I've seen many cases where personal injury settlements have been several million pounds - it takes a lot of policies to pay for a million pound claim. There's a lot of fraudelent claims/staged accidents too, plus the levy we have to pay for all those uninsured drivers
If the insurance companies generally were making a fortune surely new competitors would step in and be able to take a good market share.
Sorry, I know I won't get much support for defending insurers!