National Transport Insurance has warned there will be no justification for reductions in heavy commercial motor premium rates next year, despite predictions in the recent JP Morgan/Deloitte General Insurance Industry Survey that rates will continue to fall.

CEO Wayne Patterson says the current heavy commercial motor claims environment doesn’t favour “even modest reductions” in truck insurance rates.

“We have seen an increase in heavy commercial motor claims throughout 2005,” he said. “With the strict controls we have in place to achieve our technical pricing, we cannot foresee any decrease in premium rates in the next 12 months.”