Motor insurance premiums set to rise

Posted by JRC
14 Mar 2009
Motor insurance premiums set to rise
Motor insurers suffer losses due to inflated claims. Motoring insurance premiums in 2009 are likely to rise by an average of 10-20 percent over the 2008 average of S$1,000.

According to the General Insurance Association, the increase is due to those inflated claims which caused motor insurers last year to lose a massive S$241 million. That amount was responsible for bringing down the industry's overall profits by more than half.

Last year, motor insurers paid out S$742 million in claims. In contrast, the industry only paid out S$582 million in 2007.

Source: Source of News / Quote: press.renault.co.uk, headlineauto.co.uk Source of News / Quote: nissanpress.co.uk, headlineauto.co.uk Source of News / Quote: headlineauto.co.uk Source of News / Quote: headlineauto.co.uk, subaru.co.uk Source of News / Quote: autoblog.com, Mazda Motor Source of News / Quote: Aston Martin, autoblog.com Source of News / Quote: press.renault.co.uk, headlineauto.co.uk Source of News / Quote: Porsche AG, worldcarfans.com Source of News / Quote: bhpetrol-iru1.com Source of News / Quote: headlineauto.co.uk, Source of News / Quote: peugeotpress.co.uk, headlineauto.co.uk Source of News / Quote: worldcarfans.com, Daimler AG Source of News / Quote: headlineauto.co.uk Source of News / Quote: Brawn GP Source of News / Quote: Aston Martin, autoblog.com Source of News / Quote: Audi AG, autoblog.com Source of News / Quote: headlineauto.co.uk Source of News / Quote: Nissan Motor Co. Ltd Source of News / Quote: Land Rover, headlineauto.co.uk Source of News / Quote: Singapore GP Pte Ltd Source of News / Quote: Audi AG Source of News / Quote: VW USA Source of News / Quote: Lotus, autoblog.com Source of News / Quote: headlineauto.co.uk, Audi AG Source of News / Quote: Toyota Motor Co., autoblog.com Source of News / Quote: Nissan Motor Co. Ltd. Source of News / Quote: Scuderia Toro Rosso, Red Bull Source of News / Quote: Audi AG Source of News / Quote: Ferrari, worldcarfans.com Source of News / Quote: Volvo Cars Source of News / Quote: Channelnewsasia


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