Briefing: A bright future, or momentary relief for the motor market?

By Insurance Tines 2020-10-22T12:52:00

The impact of the nationwide lockdown earlier in the year is expected to help the UK motor market return to profit once again in 2021, but with underlying problems still dogging the market, this is only anticipated to offer temporary respite for motor insurers By insight editor Matt Scott

The nationwide lockdown introduced across the UK to fight the spread of the Covid-19 pandemic earlier in the year slashed the number of miles being driven across the country.

This in turn drove down claims volumes and reduced the total amount being paid out by insurers despite the upward pressure on costs as a result of supply chain interruptions and reduced capacity in repair shops.

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