Safe Speed Forums

If you get hit by an uninsured driver, either your insurance pays out, or the MIB does. Which goes towards increased premiums. If you hit an uninsured driver, your insurance would still pay for the damages.




Despite average premiums for both comprehensive and non-comprehensive cover increasing by 71% since 1996, the motor insurance sector as a whole has only achieved underwriting profits in two of the last ten years (2002). Incidentally the fact that insurance companies invest their money is not hidden. Its quite open really, insurance investment accounts for 20% of investments in the LSE. They also provide over 300,000 jobs for people in Britain.

Perhaps we DO need to take a more sceptical look at these organisations then. They run at a year buy year loss thus justifying an increase in their funding income on a year by year basis leading to larger hidden/less obvious profits, which are not widely known about. Running a company at a loss also opens up large tax breaks, does it not? The investment profits are not those of the insurance company either are they?

It IS a scam

They (the underwriting departments) are running at a loss because the amount of payouts is increasing. One reason is personal injury claims. So despite the fact they increase the premiums, the payouts increase alongside them. If the payouts start to go down, the premiums will follow. They could decide not to increase their premiums, but they would simply be running at a higher loss.

The companies do not run at a loss (at least most of them don't), so they don't get these tax breaks you speak of. I'm fairly sure this would be tax fraud and the FSA would be interested in knowing about it.

Taking this thread back to its origonal starter - untaxed/uninsured vehicles - and the problems associated with dvla finding these because the owners have "forgotten" to register them and these vehicles can be abandoned or left off road whilst not in use and sticking the proverbial two fingers up at the law.
Dont know if any other county councils have started this , but Warwickshire county council in conjunction with the police and fire services have set up a "CAR CLEAR" hotline - they got that fed up in certain areas of car fires that they now encourage members of the public to phone up a freephone line - they check out the vehicle and are responsible for action -

If the banger is not reported stolen, is insured ,MOT'D and taxed its left alone.

Some one at the start gave out a telephone number for dvla as a reporting point. (08000 325 222) . Recently lost the note of the number i use and tried this one - comes up now as bradford and bingley building society . Is Mr Brown giving us hints as t o the direction of future road tax hikes??

on dvla site it is given as 0800 032 5202. with a address for reporting out of date disks as ---

unlicenced.use@dvla.gsi.gov.uk