Motor

Motor insurance payouts increase, says ABI

Motor insurance payouts by insurers jumped by 21 per cent in the third quarter of the year, compared to the same period last year surpassing £2.5 billion for the second consecutive quarter according to latest ABI figures. The £2.54 billion paid is up slightly at 1 per cent on the previous quarter, and a leap of 21 per cent on the £2.1 billion paid in Q3 2022. It is the highest quarterly payout since the ABI started collecting this data in 2013.