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"He noted that one motor insurer, LV, had already publically stated that it would reflect any savings in premium reductions, adding that ‘if one of the leaders in that market is going to pass on those savings, it would be surprising if others did not feel obliged to do the same’."

Is this bloke a gullible idiot? Well, yes, obviously.

How many insurers have passed on past savings from costs reforms to policyholders, despite saying before the reforms were made that they would do (thereby duping the Government into making them)? None, I think you'll find, and it will be just the same (including LV) when the discount rate is revised.

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