Experts warn of reinsurance market crunch
Smaller players without scale may struggle with reinsurance costs going forward as issue is highlighted by the collapse of motor trade specialist Tradewise.
The motor trade specialist had been in trouble since before Christmas and the administrative axe fell as the industry returned to work in the New Year.
Earlier this month, Tradewise went into administration.
In a communication to brokers sent on 10 January and seen by Insurance Age, Tradewise said: “As you are all aware, Tradewise have been unable to bind New or Renewal business since 1 January 2022. There was a year left on the three-year deal with Berkshire Hathaway, although their
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