Throwback Thursday: Rate rise hope for motor insurers
Insurance Post’s Throwback Thursday steps back in time to July 1996 to remind you what was going on this week in insurance history when motor insurers were told their premiums had finally hit solid ground.
18 July 1996: Fresh hopes for motor underwriters
Premiums in the motor market finally hit solid ground after sinking for the last two years, industry analysts reported in July 1996.
The quarterly AA Premium Index showed over the previous three months motor premiums had increased 1.81% and third party rates had creeped up to 0.33%.
While the increases were slight, analysts stated it was an indication motor rates had turned the corner.
General Accident had stated it would implement increases after Direct Line’s “appalling” first half results.
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