2% rate rise in 2015 not enough to spark motor profitability, claims EY
Next year has been billed as the beginning of a trend in rising motor premiums by advisory firm EY, yet a predicted average 2% rise in 2015 will be below the rate of claims inflation.
In it's biannual ‘UK motor insurance results report', EY stated the expected 2% increase in motor rates equated to a £7m annual increase, ending the 13% drop in premiums over the past two years
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