Insurance market update – July 2011
The Deloitte view for non life insurers
The motor insurance industry is facing a challenging environment in which pressure is coming from an increasing cost of claims, despite premium increases. After the unprecedented level of loss experienced by the UK motor insurance market in 2009, this trend continued into 2010 with insurers losing 20p for each £1 premium earned.
In this edition we review the state of the motor insurance market, in particular commenting upon the underwriting results and the main drivers behind them. We also examine the reasons for the dramatic increase in personal injury claims and comment on how insurers are looking to quantify risks and identify better customers for targeting.
Insurance Market Update (PDF)