Bogus whiplash claims driving up motor premiums in East London

money-pound-notes

East London motorists are paying more than three times more for car insurance than their West London counterparts due to high numbers of bogus whiplash claims, according to research from accident camera company Smart Witness.

The price of insuring a BMW 3 Series in East London is as much as £712.22 in Manor House, E12 compared with £220.91 in Putney SW15, the research found.

Premiums for a Ford Fiesta cost only £176.08 in

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Stephen Wallace, McLarens

Steven Wallace is managing director of EMEA for global claims services provider McLarens and is the current president of the Chartered Institute of Loss Adjusters.