New Insurance market report from Datamonitor: "UK Commercial Motor Insurance: Market Dynamics and Opportunities"

Boston, MA -- (SBWire) -- 09/11/2013 --The commercial motor insurance market has had to push against a "new normal" of lackluster growth, fighting conditions where rate increases beyond a "head above water" level remain difficult. At the same time, the market faces a number of issues including personal injury claims, hardened reinsurance rates, and the uncertainty of the impact of LASPO.

Scope of this Report

- Compare a whole market view, informed by a series of insurer interviews, against your own experience and expectations.
- Develop strategies to approach opportunities arising in the market, and prepare for emerging challenges.

Report Highlights

Insurers reported rate increases of 5-7% across the commercial motor market from the tail end of 2012 into 2013. Expectations for the full year 2013 are that this will have developed toward increases of 6-9%, falling shy of the double figure target.

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Insurers are very much in a "'wait and see"' mode within regards to the impact of the LASPO Act.

The number of buses and coaches has fallen for seven successive years, and there are now 7% fewer buses than the peak in numbers seen in 2005. Heavy goods vehicle numbers have also been in decline for the past five years, but at a more marked pace than that seen for buses.

Reasons to Get this Report

How did the market perform in 2012, how is it expected to perform in the future, and how does this compare when benchmarked to your experience?
- What are other insurers in the market most concerned by, and may there be consequences you haven't considered?

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