ABI hits out at ‘crazy’ discount rate decision, claiming it could affect 36 million motorists

Huw Evans talking at the Post Claims Event

The Association of British Insurers has warned that cutting the discount rate so severely was a “crazy decision” that will affect millions of motorists.

The ABI said the decision to reduce the rate from 2.5% to -0.75 could affect 36 million motor policies.

Huw Evans, director general of the ABI, pictured, said: "Cutting the discount rate to -0.75%

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