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Your search for Annual General Insurance Overview Statistics 2014 resulted in 7 hits
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Accessing flood insurance
How to access insurance if you live in a flood-prone area
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Assessing your flood risk
Accurately assessing your flood risk can help you access insurance
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Preparing for a flood
Tips on preparing for a flood. If you are expecting flooding in your area there are a number of steps you can take to limit the damage to your property...
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FAQ
What type of compensation is impacted by the Discount Rate?
Insurance policies that pay personal injury claims, e.g. motor insurance, public liability insurance, employers liability insurance, and where damage levels are set by the Courts are all potentially affected by the Discount Rate. Other compensators such as the NHS may also face higher costs.
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FAQ
What does this mean for insurance premiums?
The change in the Discount Rate will lead to higher costs for insurers. This is because the Government had previously indicated that the rate would be set between 0 and 1% and most insurers were basing their claims costs on this, and not on the previous rate of minus 0.75%, in order to keep costs and premiums as low as possible. As the new rate is below this range, insurers will have to increase the money they set aside to pay future claims which will inevitably increase the pressure on premiums. This is especially true for younger drivers who are statistically more likely to be involved in the types of accident that lead to these claims.
While motor insurance remains a very competitive market, in which individual insurers will make their own commercial decisions about premiums, PWC has estimated the Discount Rate change could lead to the average motor insurance premium increasing by between £15 and £25, going up by as much as £50 to £75 for younger drivers.
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Flood Re
Flood Re is a new way to help people who live in flood risk areas get affordable home insurance.
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Insurers expect to pay out nearly £500 million to support customers hit by damage from Storms Dudley, Eunice and Franklin
29/04/2022
The damage caused by Storms Dudley, Eunice and Franklin that hit much of the UK during February is expected to lead to insurers paying out nearly £500 million in dealing with 177,000 insurance claims , according to figures out today from the Association of British Insurers (ABI).