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          Insurance premiums set to soar after compensation changes

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Insurance premiums set to soar after compensation changes
Average car insurance premiums could increase by up to 75 a year as a result of a government ruling, industry experts have said.
A new formula for calculating compensation payments for those who suffer long term injuries has been announced by the Ministry of Justice.
But the Association of British Insurers ABI called the decision crazy.
The Ministry of Justice said it had no choice under the current law, and said it would consult on possible changes.


Source: http://www.bbc.co.uk/news/business-39101829

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