As a consumer, there is an expectation that there will be wider choices and options of motor and fire products available to purchase, and that the products will be more suited to the individual’s needs. For low risk groups, premiums are expected to be lower.
On the other hand, for high risk groups, premiums chargeable are expected to be higher but this can be moderated by risk reduction factors undertaken by the policyholders e.g. safer driving habits to reduce accidents, installation of car telematics or certified anti-theft devices for cars which help reduce theft.
