BRING DOWN MOTOR INSURANCE PRICES NOW, SAYS ITALIAN MINISTER

Insurers in Italy should reduce motor insurance prices from January or face counter-measures from the government, according to Pier Luigi Bersami, minister for economic development, in an interview with local newspaper La Repubblica . He said that insurers “no longer have an alibi; the profitability of car insurance has never been this good and the direct compensation is reducing costs”. Insurance regulator ISVAP warned on Friday that prices in car insurance policies were rising faster than the rate of inflation, with some increases of nearly 13% seen in southern Italy.