CHAPTER 1 EXECUTIVE SUMMARY 3 CHAPTER 2 MOTORCYCLE INSURANCE 10 Introduction 10 Key findings 10 Size and growth of the UK motorcycle parc 11 Motorcycles are growing in popularity 11 Motorcycle Action Group 2002 survey 12 Size and growth of the UK motorcycle insurance market 16 Motorcycles outperform total market 16 Claims 17 Number of claims fell 10.6 per cent in 2002 17 Claims frequency has started to level out 19 Growth in the cost of motorcycle claims accelerated 20 Average claim rebounded in 2002 22 Motorcycle premiums are struggling to keep pace with rising claims 23 Claims cost drivers 25 Accidents 25 Thefts 29 Legislation 33 Motorcycle types 34 Driver behavior 34 Weather 35 Competitive context 35 Leading competitors 35 Claims by competitor 39 Brokers 42 Competitive developments 43 The role of Lloyd’s in motorcycle insurance 44 Advertising 44 Future decoded 46
