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MSE News: Car insurance up 50% in two years
Comments
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Bradford is capital of backshunting.
The car pulls forward of the red lights, slams in reverse and backs in to you.
5 claims for various injuries and a witness behind you who saw you drive in to the back.
dash cameras are very popular in BradfordHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
If you are refering to the story highlighted by UK news channels, the child was run over by two seperate vehicles. Neither reversed over it to make sure it was dead.A few months ago, there was a big news item in China.
A toddler was run over by a van, which reversed over it to make sure it was dead
You believe that in China, accident victims are being murdered to reduce insurance premiums?This is now common practice0 -
Most of them still do.
Others have just started to sell car insurance, so it must be worthwhile moving in to the market.
Selling it and underwriting it are two different things.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Norman_Castle wrote: »If you are refering to the story highlighted by UK news channels, the child was run over by two seperate vehicles. Neither reversed over it to make sure it was dead.
http://www.guardian.co.uk/commentisfree/2011/oct/19/foshan-incident-unspoken-illness-china
"These questions sound ridiculous and crazy, but a few days ago a driver in Foshan, south China, ended up nearly killing a two-year-old girl, Yueyue, by running her over twice rather than face the hassle of a possible lawsuit. Meanwhile, many people walked by the girl's mangled body, ignoring the situation, until a scrap collector on a bicycle stopped and saved her life. The girl is currently fighting for her life in hospital."
"Perhaps the most tragic thing is that this is hardly unique, just the latest and worst of a series of similar incidents where suffering has been greeted with indifference."
http://www.dailymail.co.uk/news/article-2052815/Xiong-Maoke-5-dies-latest-horrific-Chinese-traffic-accident.html
A lorry driver ran over a five-year-old boy – and then reversed over him to make sure he was dead in an apparent attempt to avoid footing hospital bills for the child.Norman_Castle wrote: »You believe that in China, accident victims are being murdered to reduce insurance premiums?
No, to reduce compensation payout. The driver probably isn't even insured.
http://www.guardian.co.uk/commentisfree/2011/oct/19/foshan-incident-unspoken-illness-china
"Others say that Chinese traffic laws encourage bad behaviour among drivers – that they are only required to pay compensation of ¥200,000 for a death caused by a car accident, but must pay all the medical treatment for the rest of victim's life if the accident is non-fatal."
£1 = RMB10, £20,000 for one life.0 -
The insurance system in Australia is interesting. Basic third party insurance is included for the car when you buy a tax disc, any driver. If you want more cover you have to buy a separate policy.
The result is a very low number of uninsured drivers. However, it isn't all roses because it means that a 17 year old can go out and pay £500 for a V8 banger and perfectly legally drive it around. The result is some pretty spectacular crashes. This one happened close to where I was staying just before Christmas. Both lads killed...
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Speculation.rather than face the hassle of a possible lawsuit.
Speculation. A misleading line in a newspaper based on a witness statement. Read the article.A lorry driver ran over a five-year-old boy – and then reversed over him to make sure he was dead in an apparent attempt to avoid footing hospital bills for the child.
Others say?."Others say that Chinese traffic laws encourage bad behaviour among drivers
None of the above proves motorists are intentionally harming victims. Both accidents show a lack of compassion by bystanders and witnesses
Similar incident from the uk. Note the lack of speculation.
http://news.bbc.co.uk/1/hi/england/london/3700446.stm0 -
Most of them still do.
Others have just started to sell car insurance, so it must be worthwhile moving in to the market.
Yes - its the old cyclical story - insurer loses money - puts up premiums - still loses money - pulls out of writing motor insurance altogether - as do other loss making motor insurers - fewer players in the market place, less competition, put up rates - insurers decide the corner has turned and start making money - other insurers see money making opportunities and enter the motor market together with the return of insurers who had previously withdrawn - too many insurers - more competition - insurers fighting for market share, cut premium, make unrealistic advertising offers - start making losses - then read the story again from the begining !! :rotfl:0 -
Forgot to add - I negotiated a cracking good deal 4 years ago and each year since I have spoken to "retentions" and they have reduced the premium, so paying less now than 4 years ago0
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