Motor

Cross-government motor insurance taskforce to tackle insurance costs

Transport Secretary, Louise Haigh and Economic Secretary to the Treasury, Tulip Siddiq, are to bring together groups such as the Association of British Insurers (ABI), Citizens Advice, Which? and Compare the Market, as well as insurance regulators, to tackle spiralling costs of car insurance. It comes as motor insurance premiums have grown by an average of 21 per cent since June 2022, according to Financial Conduct Authority (FCA) analysis – far higher than in comparable economies such as Germany, France, Spain and Italy.