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Anonymous 14:46 - "Please confirm which insurer has posted record profits" - Your ignorance is frightening and part of the reason why the myth about the supposed compensation culture continues. Do you even know what an underwriting profit is? In the insurance world it takes into account premium received less costs and expenses but, excludes investment income and secondary income streams. Insurers have been making significant profits from Motor Insurance otherwise why would they write it?

Motor insurance is compulsory for motorists but insurers do not have to write it so think to yourself, why do they?

The average premium is not £1500 it is around £400 and the average household spend is about £800. Average claim is about £2700 and the claims frequency is about 11%.

Perhaps if politicians and the public took time to research and understand the market data they would see through the ABI's agenda of trying to secure additional profit through legislation by avoiding paying out for the specific risk that they accept a premium for. You may also want to research the hard and soft insurance market cycle to see how insurers sometimes price for market share rather than profit (soft) then price for profit rather than market share (hard). They do so by managing their significant reserves.

For those that do not shop around every year for cheaper insurance quotes more fool you as it is always cheaper or about the same price if you do. Provided that your circumstances have not changed in terms of accident or speeding endorsements.

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