MIB reduces levy on insurers for third year
The Motor Insurers' Bureau has introduced an annual levy on motor insurers of £397m for 2010, marking the third reduction in contributions to the fund of last resort in three years.
The levy, which stood at £417m in 2008 and £407m in 2009, is estimated using claims and actuarial data and is used to pay claims for accidents involving uninsured drivers. In 2009, insurers shared a
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