Businesses warned rate increases are on the way
Smaller increases expected now in place of sharp hikes in the future
Businesses have been warned to budget now for expected increases to corporate insurance premiums.
Robert Cholmondeley, director of the corporate insurance division at financial advisory group Taylor Patterson, has advised that some insurers are seeking to apply a policy of sensible premium rating increase of around 5% per annum over the next few years. This action is being taken in order to avoid a ‘knee-jerk’ reaction of annual increases of 20% (or possibly even more) at some stage in the
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