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"The consultancy estimates the overall costs to insurers and reinsurers to be some £3.5bn" no it hasn't cost the insurer a penny as they will use the rate change as an excuse to ramp up premiums. This will cover the extra damages paid out plus some extra profit in their pockets.

"Motor insurers suffered combined losses of £3.5bn last year" Please show me one motor insurer that made a loss. I'm certain all insurers made a healthy profit last year plus it isn't just motor insurer that the rate change affects, its all insurers so why only mention motor insurers?

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