Review of the Year 2023: Pearson Ham's Stephen Kennedy
Stephen Kennedy of the Pearson Ham Group assesses how the phrase ‘unprecedented premium increases’ took centre stage in 2023 and why rates are likely to stabilise next year.
What has been your insurance/broking related highlight of 2023?The standout highlight in the insurance and broking industry for 2023 was the remarkable surge in personal lines premiums. Both motor and home insurance premiums experienced unprecedented increases during the year due to the combined impact of inflationary pressures and an exceptional rise in claims inflation.
What has been the most over-hyped insurance/broking buzzword or phrase of 2023?The term ‘unprecedented premium increases’ took
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