UK motor insurers exit "bloodiest" renewals period amid PPO concerns
The UK motor insurance market has witnessed the close of a testing reinsurance renewals season driven by wrangling over excess-of-loss cover and periodic payment orders, with reinsurers keen to limit their liability.
Guy Carpenter has estimated that UK motor renewals have been subject to an average 25% increase, seeing more substantial growth where a capitalisation clause has not been agreed.
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