Virtually every year it is cheaper for me to insure several bikes separately than on a multibike policy,…

[TechnoGSA]

How can paying larger and more frequent claims, ‘Make money for insurers’? That is bizarre economics and a dreadful business plan.

Precisely they can't. They are making money as they're increasing everybody's to pay for it, if they didn't, it would as you say be a dreadful business plan. Smelling the coffee springs to mind.

It is true that insurers are ‘In it to make money’, as is your employer or, if you are self-employed, yourself. It’s a universal trend. Without ‘making money’ they go bust, eventually.

Correct so tell the truth, rather than pretend they're paying out more than they collect. As you've stated above it can't be the case or they'd go bust! They aren't going bust so it doesn't add up, like a lot of financial stuff these days, it's about making obscene amounts of money. The system is rigged to ensure they don't go bust and pass on the costs to those who pay but never claim, which will far out weigh those who do, that's how they make money!

 

[Wapping]

Have EY’s numbers, they have no particular reason to lie:

UK motor insurance results analysis

EY analysis shows the UK motor insurance market experienced its worst performing year in a decade in 2022, with further losses expected this year

www.ey.com

 

[TechnoGSA]

If that was the case they'd all walk away or go bust like you've stated, they aren't now are they? A few yes, as their business model doesn't like it and/or isn't going to give them the returns they're looking for. Remember an insurance company isn't necessarily an underwriter it's those who put up the money and make the biggest profit. Company's just buy an amount of cover and turn it into policies add a margin and sell them.

Also take into account all the years they've made huge profits, they're in the business of risk, some years we save/make more others less. That's where the real issues lies, they want to make more and more every year regardless of what's happing.

To quote someone who sussed out stuff many years ago “There are 3 kinds of lies: lies, damned lies, and statistics.”

 

[GSite]

12% don't get me started, surely a cut in this will make a bigger difference pre-election than some other budget measures. Mrs GSite about to distract me wirh a list of oustanding jobs.

 

[Wapping]

12% don't get me started, surely a cut in this will make a bigger difference pre-election than some other budget measures. Mrs GSite about to distract me wirh a list of oustanding jobs.

Yes, the Chancellor could easily have cut or removed that figure. But he didn’t, nor has any Chancellor since the tax was first introduced.

Of course, if bods demand more police, better schools, bigger armies, improved roads and rail, less income tax, a reduction in VAT, lower national debt, better old age pensions, cheaper fuel at the pumps, better social housing and improved flood defences (to name but a few, often called for on these pages) then the fellow’s options are, shall we say, somewhat limited.

But hey, I don’t run the country.

 

[er-minio]

It's these bloody immigrants' fault. I read it here.