ITALIAN MOTOR RATE RISES STARTING TO SLOW, SAYS MARZANO

Italian production activities minister Antonio Marzano has noted that rises in statutory motor insurance rates have slowed substantially since a new government-brokered accord between insurers’ association ANIA and consumer groups came into force in May. At a roundtable meeting, Mr Marzano said that the annual increase in premiums for the year was likely to be 2.7% — less than a third of the 9.1% rise recorded in 2002. However, Mr Marzano ruled out a request made by consumer groups for an immediate 20% cut in premiums. He said that such cuts would only be possible should the accident rate in Italy, which has fallen since a points system was introduced for driver licences, continued its downward trend in 2004.