UK Car Insurers Face Calls To Return Cash To Policyholders [Forbes]
Berkshire Hathaway Inc. (BRK.A)
Last berkshire hathaway inc. earnings: 8/4 05:00 pm
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Source: Forbes
A quiet M25 near Addlestone in Surrey, which is normally full of cars on a busy Easter getaway... [+](Photo by Steve Parsons/PA Images via Getty Images)Car insurance companies in the UK are being criticised for not providing automatic refunds or discounts to customers who are driving fewer miles as a result of the coronavirus lockdown.Insurers in North America and Europe are offering general premium reductions and refunds to reflect the fact that the number of accidents has reduced significantly in recent weeks and is expected to remain at a relatively low level while social distancing is in force.Estimates vary, but road accidents and associated insurance claims are expected to fall significantly during the crisis, perhaps by 60% or more. And the cost of accident-related claims is thought to account for at least 75% of car insurance premiums.However, there are also concerns that there might be a spike in claims once the lockdown is lifted and people return to the roads in significant
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