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Some commenters have said that premiums won't fall as a result of the reforms.

In that case, dear sirs, you should start an insurance company yourself, offer slightly lower premiums than existing insurers, and pocket a nice profit since claims will be lower. The entry barriers are low, and the marketing is simple; joint the comparison sites.

In a competitive market like the UK, you should find that insurance premiums closely follow the aggregate cost of claims plus administration. It is true that there will be a windfall for insurers covering existing policies, but since policies are annual, so long as drivers check the price they are paying is competitive at renewal, the windfall will be short lived.

Motorists here in the UK have for too long been forced to pay premiums largely to fund fraudulent claims. Honest and reasonable people will welcome efforts to stamp this fraud culture out.