Courses and Insurance Premiums

courses and insurance premiums


Young members Chartered Insurance Institute (CII) are pushing for a comprehensive analysis of the effects of speed awareness courses in the safety of drivers and how they should be the insurance companies calculate motorists affect premiums.

The recommendation follows a BBC investigation suggests that some insurers try to drivers, the courses speeding visited consciousness as a higher risk, which justifies the increase in insurance premiums, say despite the police that the insurance prices for motorists to be unchanged should.

The new generation of group membership IIC - a part of the powers of the IIC and by professionals formed who volunteered to explore their time ways to improve the practices of the insurance industry - has in the research involved about speed awareness courses and insurance. Its final report, published now requires testing on driving a more detailed analysis of the long-term effects of courses.

On behalf of the Group, James Ward says: "It has not been, so far, has been a lack of analysis of the impact of some courses speed awareness (ZEC) on the driving behavior and if the risk of accidents or other beliefs is different compared to Raser condemned as short-term effects were measured.

"We have worked closely on this issue with key stakeholders, including the National Road Safety Council and the Association of Chiefs of Police, and we have a complete proposal for the insurance industry and the police prepared to show Collaborate definitely affect the ZEC. This analysis should be advanced to measure the long-term effects on the riders who visit a course. this, in turn allowing the industry when statistically to understand these drivers at increased risk, a risk minor or it is not compared different than with the drivers, either with or without once completed convictions for speeding., the individual insurance companies can make informed decisions about the bonuses that their prices are fair "to be loaded with full confidence.

James adds. "The lack of clear information on the issue of confusion created by the drivers and insurers about whether a course should visit the Financial Ombudsman has disclosed confirmed that drivers attended a course you can honestly answer" no "to the question, whether they motorsports conviction or prosecution, as none of these drivers who apply a speed awareness course have visited.

"The insurance industry, and this doctrine speed awareness courses have to work together to create the real impact of these courses, to ensure that the customer pay an appropriate premium, which reflects their level of risk.

"Some insurers can make an informed decision about the premiums that want to load with full confidence. Likewise course providers will be able, long-term rates impact and use the results to help with their ongoing efforts to understand the efficiency improve and ultimately to improve road safety for all ".

More than one million people took part in a speed awareness course last year sentenced instead to be accelerating. This is a significant number of people (2.7% of the total driving population) currently represent an unknown risk for insurers, which means that they are not paying the right premium. This is a growing problem for the industry as more people these courses hoping choose to visit the avoidance of the insurance premium that comes with an acceleration conviction. It could even enhance caught on other areas, such as those of the drive and at the same time using a mobile phone.

An important point is that there is no data consistency. Not all police agencies Nationale drivers provide criminal Retraining Scheme (NDORS) approved courses. This means that a driver could potentially take more than one course in a short time and get still not convinced (in different geographical areas). One of the recommendations of the CII is that the data of all who participate in the course, regardless of the provider of the police department or course need to be stored centrally.

the new generation of IIC initiative aims to supplement the existing programs of the company talent and to selected individuals in addition to the market issues and tools they provide for future leadership equip exposure. There are four groups of specialization ever - claims, insurance market London, brokers and assurance - and each group has the opportunity to make their mark in its sector of the profession in the course of his program to be involved in a project by the industry Your choice.

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