UK's Car Insurance Industry

UK's CAR INSURANCE INDUSTRY UK's Insurance and long term savings industry is the third largest in the world. Insurance Industry OVERVIEW It plays vital role in UK's economy by managing investment of Contribution ·£1900 in GDP £29. billions billions Equivalent to 25% of the UK's total net worth 334000 People employed in UK insurance industry £ £ £ £ | £ £ £ £ £ £ UK insurance industry contributed nearly £12. billions in taxes to the UK Government in 2014 3333 |33|3|3 |3|3 CK Insurance Industry UK Everyday £27milins to motorists to repair vehicles and cover injury claims UK insurers paid (£9.8 vilion in motor claims in Comprehensive Private Motor Insurance Premium in 2015 2014 400 £379 £367 £360 UK consumers pay 350 - £13 300 - more on 250 - comprehensive car insurance premium due to 200 150- 3.5% 100 - 50 hike in Insurance Premium Tax CIPT) 01 Quarters 52% motor insurance is purchased directly by consumers via price comparison website. 67,000 £31ons fraudulent motor claims in a year valued millions £837 UNDERWRITING LOSS MADE BY millions UK Car Insurance Market in 2014 Insurers Consumers Britain's largest car insurers are making more than £1. 212,000 billion attempted dishonest applications for motor in a year by not properly informing customers when they renew their policies insurance in 2014 FREE PRICE liCOMPARE Conceptualize & Design: www.freepricecompare.com f Facebook.com/free.price.compare Twitter.com/freepricecompa Sources: UK Insurance & Long Term savings Key fact 2015 by Association of British Insurers e Www.dailymail.co.uk OO0OOO©OOO OOOOOOOOOO OOOOOOOO00 OOGOOOOOO© OOOOOOOOOO OOOOOOOOO© OO©©©©©©O® Amount in £