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motor
Pen Underwriting and Zurich expand multi-year fleet capacity deal
12th December 2025
Pen Underwriting, a multi-class multi-territory managing general agent (MGA), has announced the extension of its decades-long strategic collaboration with Zurich in the UK, with a newly expanded multi-year specialist fleet capacity deal. Building on a partnership of consistent motor fleet capacity provision for the hazardous goods, tankers and environmental industries that ... Read the full article
Electric vehicle surge drives insurance market highs: Swiss Re
24th June 2024
In a recent report, the reinsurance company Swiss Re forecasts a 30 percent annual growth in global electric vehicle (EV) sales until 2030, propelling the EV insurance market to surpass USD 200 billion by 2030, up from USD 51 billion in 2022. This surge in the market is influenced by shifting ... Read the full article
Aon unveils new platform for motor fleet operators
18th June 2024
Global insurance and reinsurance broker Aon, has launched a new platform to help motor fleet operators understand where risk is within their fleet. The new platform, which is called Fleet Risk Intelligence, aims to reduce accidents, improve operations and reduce costs. According to the broker, the platform provides actionable insights to fleet operators ... Read the full article
DARAG and UnipolSai form service partnership
17th June 2024
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major player in non-life insurance and motor vehicle third-party liability (TPL) in Italy. Under this agreement, DARAG Deutschland ... Read the full article
Tesla Insurance forcing competitive rates from peers, says Musk
27th January 2023
Tesla CEO Elon Musk has said that his company’s insurance offering has already made a significant impression on the market, with other large car insurers having been forced to offer better rates for Tesla vehicles. Speaking during a Tesla Q4 earnings call, Musk also spoke to the “unreasonably high” repair costs ... Read the full article
Claims costs for motor injuries could rise after Court’s ruling
25th January 2023
A judgment from the Court of Appeal could hamper the government’s attempts to maintain downward pressure on the cost of motor injuries in the UK, global law firm Clyde & Co has warned. Eighteen months after the government introduced reforms to legislation around whiplash claims and other soft tissue injuries, the ... Read the full article
Italian non-life premiums up 6% as insurers shift from motor: Fitch
8th November 2022
Non-life premiums in Italy rose by 6% during the first half of 2022, according to data from Fitch Ratings, owing to strong growth in non-motor lines. Analysts note that Italian insurers have been increasing their exposure to non-motor in recent years to offset pressure on motor profitability, which still accounts for ... Read the full article
AXA partners with taxi firms on Internet of Vehicles project
27th October 2022
AXA Hong Kong and Macau have announced a partnership with Chung Shing Taxi and TaxiSafely to launch Hong Kong’s very first Internet of Vehicles (IoV) project collaborated by insurer and taxi company. The collaboration aims to enhance taxi driving safety, and protect taxi drivers, passengers and other road users, through the ... Read the full article
Two Sigma (TSIQ) enters into partnership with Central Analysis Bureau
5th October 2022
Two Sigma Insurance Quantified (TSIQ), an underwriting technology company for the commercial property and casualty (P&C) industry, has announced a partnership with Central Analysis Bureau (CAB), a provider of risk assessment tools and data for the transportation insurance industry. Through this partnership, CAB's entire industry-standard commercial trucking dataset will be embedded ... Read the full article
Berkshire Hathaway GUARD sees reduction in accidents with cars equipped with SDS’ ADAS
1st September 2022
Berkshire Hathaway GUARD Insurance Companies has seen a reduction in accidents with cars equipped with Safe Drive Systems’ (SDS) Active Driver Assistance System (ADAS). SDS’s Active Driver Assistance System, supplemented with SDS Telematics unit, were tested to evaluate whether they reduce the frequency and severity of accidents. The SDS solution includes radar ... Read the full article
Hard to imagine motor claims inflation dropping in near-term: J.P. Morgan
27th July 2022
Inflation is “beginning to bite” in the UK motor insurance market causing adverse trends, particularly relating to claims inflation, analysts at J.P. Morgan have observed. A drop in claims inflation in the near term is hard to imagine, analysts highlighted, mainly due to supply chain issues, and wider economic inflation. In its ... Read the full article
UK car insurance premiums increase by 6%, industry facing a “raft of challenges”: WTW
21st July 2022
Comprehensive car insurance premiums have increased by 6% (£32) during the last 12 months, with UK motorists now paying £554 on average, according to data from WTW and Confused.com Car Insurance Price Index. WTW recently warned that UK motor claims inflation was on the rise, as the broker recently revealed ... Read the full article
Inflation weighs heavily on results of UK motor insurer Sabre
15th July 2022
UK motor insurer Sabre Insurance Group has reported that the “exceptional inflation event” experienced so far in 2022 has weighed heavily on its results for the first half of the year. The company last year factored in claims inflation of approximately 8%, but believes that levels have now reached approximately 12%, ... Read the full article
Tesla Insurance could pose long-term threat to US auto insurance industry: Morgan Stanley
27th April 2022
Analysts at Morgan Stanley have said that in the long-term, Tesla Insurance may pose a threat to the ~$260 billion US auto insurance industry, following the company’s expansion of its new insurance product that uses real-time driving behaviour data. The insurance offering was recently launched in Virginia, Colorado and Oregon. It ... Read the full article
“We’re trying to turn a nightmare into a dream with Tesla Insurance,” – Elon Musk
22nd April 2022
During Tesla’s recent Q1 2022 earnings call, Chief Executive Officer, Elon Musk, along with Chief Financial Officer, Zachary Kirkhorn, shared key details about Tesla’s new insurance offering that uses real-time driving behaviour data. The insurance offering was launched earlier this week in Virginia, Colorado and Oregon. During the call, Musk explained that ... Read the full article
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