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Global Motor Insurance Trends, Costs, and Regulatory Changes
Indonesia: Fitch sees weak car sales weighing on Indonesia insurers, NBFIs
8 Oct 2025
Fitch Ratings expects weak car sales in Indonesia to pressure earnings for non-bank financial institutions (NBFIs) and motor-focused non-life insurers in 2026, with NBFIs most affected due to their reliance on auto financing. Vehicle sales are forecast to remain below 900,000 units, constrained by higher prices, the end of EV incentives, and limited new lending. Despite recent policy rate cuts, auto financing growth is unlikely to rebound sharply, with NBFI receivables and used car financing already slowing. Non-life insurers less dependent on motor lines are expected to see modest premium growth, while those focused on motor, like PT Asuransi Mitra Pelindung Mustika, may face earnings pressure amid rising competition.China reinsurance market stable as capacity grows: AM Best
8 Oct 2025
China’s reinsurance market remains stable, supported by steady demand and increased capacity across most lines, though motor insurance has entered a low-growth phase despite improved profitability. Softened rates reflect broadly deployed capacity, while terms and conditions remain largely unchanged. Catastrophe activity in 2024 was mild, with Typhoon Yagi causing around $500 million in insured losses, and risk-adjusted rates fell on certain loss-free treaties during 2025 renewals. Rising electric vehicle sales offer new motor reinsurance opportunities, though reinsurers remain cautious due to limited loss data. Non-motor segments like agriculture, health, and liability are seeing stronger growth, particularly among larger insurers with robust underwriting and risk management.UK: Top 50 Insurers: Commercial lines insurers pull ahead as Solvency UK data reveals sharper splits versus personal peers
8 Oct 2025
UK property insurance has been highly profitable for both personal and commercial lines, aided by low natural disaster activity in 2024, with commercial property insurers outperforming their personal peers. Commercial lines benefit from low loss ratios and effective cost control, while personal property remains profitable but faces higher claims and expenses. In contrast, the motor insurance market remains largely unprofitable, with both personal and commercial segments posting combined operating ratios above 100%, though commercial motor benefits from better risk management and fleet telematics. Overall, property insurance has driven positive results for UK insurers, while motor lines continue to challenge profitability amid claims inflation and regulatory pressures.USA: Auto Insurance Premiums Skyrocket, Deepening Affordability Crisis for New Yorkers
7 Oct 2025
New York drivers are facing sharply rising auto insurance premiums, with full coverage now averaging $4,031 annually—nearly $1,500 above the national average—adding to the state’s broader affordability crisis. Factors driving costs include supply chain issues, higher vehicle prices, climate-driven claims, fraud in the no-fault system, uninsured drivers, and legal loopholes inflating settlements. Many residents are forced to reduce coverage or risk driving uninsured, placing households under financial strain. Advocates are pressing Governor Hochul and lawmakers to implement reforms, including stronger fraud enforcement, penalties for uninsured motorists, and oversight of injury-related claims. Without action, high premiums may become a defining affordability issue in New York for 2026.Japan: Insurers face nearly US$87m in vehicle claims after record Kyush, Yamaguchi rains
7 Oct 2025
Following record heavy rains in Kyushu and Yamaguchi in August, Japanese insurers face around $87 million in vehicle claims from 16,988 reported cases. Kumamoto Prefecture was hardest hit, with 12,236 claims totaling approximately JPY 8.84 billion, while Kagoshima, Ishikawa, Yamaguchi, and other regions reported additional losses. The flooding, caused by a linear rainband from August 6–12, damaged vehicles across multiple prefectures. The General Insurance Association of Japan (GIAJ) warned the public to avoid fraudulent claims assistance, advising policyholders to contact their insurers directly.Covertime launches UK platform for on-demand motor insurance
7 Oct 2025
Covertime, a new digital insurer, has entered the UK motor market with an on-demand platform offering short-term car, van, and learner driver insurance. Acting as a regulated intermediary, it partners with established insurers such as KGM Underwriting Services and Allianz to provide flexible, pay-as-you-go cover. Founded by industry veterans Alan Inskip and Paul Salter, Covertime aims to simplify insurance through fast digital transactions and customer control. The company’s model reflects changing consumer habits, as more drivers seek practical alternatives to annual policies. Its launch highlights how technology-driven entrants are reshaping convenience and expectations in UK motor insurance.OCU Group cuts motor insurance costs by 42% with Samsara
7 Oct 2025
OCU Group has cut its motor insurance claim costs by 42% within eight months by implementing Samsara’s AI-powered fleet management and dash cam solutions across its 2,600-vehicle fleet. The technology provides real-time visibility into driver behaviour, helping reduce speeding, phone use, and claim volumes, while 70% of claims are now reported within 48 hours. The company has also lowered overall premiums by 5% and improved operational efficiency by consolidating three systems into one unified platform. OCU Group’s rapid improvements demonstrate how smart fleet management can enhance safety, reduce costs, and enable data-driven decision-making.Germany: Study shows: Many do not know what they are paying
7 Oct 2025
A recent Adyen study shows that Germans are generally well-insured, with nearly half holding five or more policies, especially young adults. The most common coverages are liability, home, and car insurance, while life and niche policies are less popular. Many people, however, are unclear about their monthly insurance spending, partly due to automatic payments. Most prefer SEPA direct debit, though younger policyholders increasingly seek flexible digital payment options. Price-performance, transparency, and trust remain the top factors influencing insurance decisions.Germany: New rules: Drivers will pay more in 2026
7 Oct 2025
In 2026, German drivers face stricter environmental rules, new vehicle technology requirements, and higher costs. The Euro 7 emissions standard takes effect for new cars in November 2026, including limits on fine particles and tire and brake wear, while EV batteries must meet minimum durability standards. Around six million drivers will see higher insurance premiums due to updated vehicle classifications, and all new vehicles must have the “Next Generation eCall” emergency system. Drivers with licenses issued between 1999 and 2001 must exchange them for modern ID-style cards by January 19, 2026. Additionally, CO₂ taxes and public transport fares are set to rise, increasing overall mobility costs.Italy: After the banks, it's the insurance industry's turn: the government is moving toward a massive tax on car insurance policies
7 Oct 2025
The Italian government is considering a significant tax hike on car insurance policies, particularly those covering driver injury. Currently taxed at 2.5%, the Treasury proposes raising the rate to 12.5% to generate additional revenue for the 2026 budget. This follows a similar surprise levy on life insurance policies last year, which raised substantial funds. If implemented, policyholders would bear most of the extra cost, while insurers would act as collection agents for the tax. Legal experts are being consulted, with some arguing the existing 2.5% rate is already correct under current law.North Ireland: Young Drivers in NI Are Facing Higher Car Insurance Premiums
6 Oct 2025
Young drivers in Northern Ireland are now paying some of the highest car insurance premiums in the UK, according to new data from CompareNI.com. The average annual cost for 17–24-year-olds has risen to £1,318 — 18% above the UK average — despite a modest £92 drop this quarter. In contrast, premiums in Great Britain have fallen much faster, with some regions seeing decreases of up to £354. Belfast remains the most expensive area for young motorists at £1,622, while Causeway Coast & Glens is the cheapest at £1,186. CompareNI’s Ian Wilson said the limited decline in Northern Ireland reflects longstanding issues such as higher crime and compensation rates but added that young drivers can still reduce costs through steps like early renewals, avoiding modifications, and using telematics.Australia: Insurance industry “duopolopy” warning
6 Oct 2025
The Motor Trades Association of Australia (MTAA) has warned that continued consolidation in the motor insurance market is reducing competition, driving up premiums, and limiting consumer choice. Approvals of acquisitions by IAG and Allianz, including the proposed IAG–RAC Insurance deal in Western Australia, risk creating a market dominated by just a few large players. MTAA highlighted that fewer insurers could undermine independent repairers by imposing restrictive agreements and reducing fair remuneration. The association called on the ACCC and federal government to introduce a national Motor Vehicle Insurance and Repair Industry Code of Conduct to protect consumers and ensure fair competition. Without stronger regulation, MTAA warned, motorists could face higher costs and diminished market transparency.Germany: New car registrations September 2025: E-cars with significant growth
6 Oct 2025
In September 2025, Germany’s new car market showed strong growth, with 235,528 vehicles registered, up 12.8% from a year earlier. Electric vehicles (BEVs) accounted for 19.3% of new registrations, nearly one in five cars, while plug-in hybrids surged 85.4%, and conventional petrol and diesel cars declined. Average CO₂ emissions for new cars fell 8.8% to 102.8 g/km. Volkswagen remained the top-selling brand, followed by Mercedes and BMW, while Tesla’s registrations dropped nearly 10% amid growing competition from Chinese EV makers. Overall, the market is recovering, with electrification continuing to gain momentum despite still representing a small share of the total fleet.Costa Rica: Motorcycles and private cars will pay between ¢4,000 and ¢5,000 more for mandatory auto insurance in 2026.
3 Oct 2025
Costa Rica’s insurance regulator, Sugese, approved a 10.15% increase in the average mandatory car insurance (SOA) premium for 2026, following a request from the National Insurance Institute (INS). Private car owners will pay an additional ¢4,426, while motorcycles face a ¢5,114 increase. Buses and heavy trucks see higher rises, whereas taxis and special equipment vehicles have the smallest hikes of ¢2,104 and ¢1,979, respectively. The increases respond to rising accident claims, with SOA providing up to ¢6 million in coverage for medical or funeral costs. The final impact on vehicle registration fees depends on other factors, including vehicle taxes set by the Ministry of Finance.Germany: Fueling will become more expensive again in 2026
3 Oct 2025
In 2026, Germany’s CO₂ price for gasoline and diesel will rise to 55–65 euros per ton, adding roughly 17 cents per liter for petrol and 19 cents for diesel. This increase targets greenhouse gas reduction and supports climate initiatives, funding eco-friendly technologies and energy transition projects. The higher fuel costs will mainly affect commuters and rural residents who rely on cars. Drivers can mitigate expenses by comparing prices, avoiding refueling on highways when possible, and filling up in the evening rather than the morning. The CO₂ levy reflects a broader push to align transportation costs with environmental goals.Ireland: Central Bank to reduce Insurance Compensation Fund Levy to 1%
3 Oct 2025
The Central Bank of Ireland will reduce the Insurance Compensation Fund levy from 2% to 1% starting January 1, 2026, the first change in 14 years. The levy protects certain non-life policyholders if their insurer goes into liquidation, and the reduction is expected to benefit home and motor insurance consumers. The regulator urged insurers to pass on the savings to eligible policyholders without delay. Deputy Governor Mary-Elizabeth McMunn emphasized that the change reflects the fund’s strong financial position and ongoing monitoring will continue.France Car insurance: this important change starting January 1, 2026
3 Oct 2025
Starting January 2026, French drivers can expect auto insurance premiums to rise by 4–5%, continuing a long-term trend of increasing costs. The hikes are driven by higher repair and labor expenses, the rising value of vehicles—including electric and hybrid models—natural disasters like hail, and the growing frequency of road accidents. Insurance now represents the third-largest expense for motorists, after vehicle purchase and fuel. The increase will affect nearly all drivers, regardless of car type or policy.Quotezone Says Premiums Are Falling For Younger Drivers
3 Oct 2025
Quotezone reports that car insurance premiums for young UK drivers have fallen to an average of £1,098, the lowest in a decade, with half of the regions now under £1,000. The overall UK average has also dropped to £591, down from £816 in Q1 2024, reflecting a reversal from the sharp rises seen in 2023. Regions such as Wales and South West England now see costs in the £400 range, while London, West Midlands, and North West remain over £600. Factors such as telematics, accurate policy details, and driving behaviour are helping young drivers secure lower premiums. The decline is seen as a positive step toward more affordable car insurance, with hopes for continued reductions into 2026.USA: NFIP Program Runs Out of Funding
1 Oct 2025
The lapse of the U.S. National Flood Insurance Program (NFIP) has left homeowners at risk, as the program cannot issue or renew policies while $23 billion in Treasury loans remain outstanding. Without NFIP backing, homes in flood-prone areas may face difficulties securing mortgages. Private flood insurance, such as Hiscox FloodPlus, now provides the only uninterrupted coverage, offering higher limits, broader protection, and fast digital quoting. Hiscox emphasizes that FloodPlus ensures homeowners and businesses remain protected during peak flood season, bridging the gap left by the NFIP shutdown.Car Insurance 2.0: Tunisia goes fully digital with the imminent launch of the smart system
1 Oct 2025
Tunisia is set to launch “Auto Insurance 2.0,” a digital reform allowing drivers to handle all car insurance tasks—from green card issuance to claims—via smartphone, eliminating paperwork and long queues. The initiative, led by the government in collaboration with multiple ministries and the Tunisian Federation of Insurance, will centralize data in a smart QR-coded card for faster, more transparent services. The reform emphasizes full digital administration, including electronic correspondence, online document management, and licensing oversight. It also aims to expand financial inclusion by enabling remote contracting and potentially allowing mobile operators to act as insurance intermediaries. Overall, the project seeks to make insurance more accessible and citizen-friendly across Tunisia.Italy: Car insurance: crackdown on fraudsters. Here's what the Competition Bill provides.
1 Oct 2025
Italy is set to tighten rules on car insurance fraud under amendments to the Competition Bill. The maximum time to claim auto liability (RC Auto) compensation will drop from two years to 90 days, while insurers can investigate repairs done at garages chosen by the policyholder. Insurers may also raise premiums at policy inception if fraud indicators are detected. Anti-fraud measures have already saved over €628 million in 2024, and the new rules aim to further reduce fraudulent claims and control rising premiums. Additional changes include requiring witness information for personal injury claims to improve claim verification.Related News
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