Insurance Age blog: Some economics of commercial market hardening
Now, as you may have guessed from my previous ramblings I’m no economist. And even I realise that reading too much into two sets of data this month could be dangerous but they really have got me thinking about the old chestnut that is commercial market hardening.
Firstly there was the news that the insolvency rate has started to increase again in the UK. I'm not quite sure how the figures are produced, but there were 36 "insurance" insolvencies in July 2011 which represented a 140% increase over July 2010.
For those who have lost their jobs it is clearly bad news and all brokers should be concerned by the overall increase in insolvency rates. Only businesses with more than 500 employees saw an improvement in their insolvency rate.
Read on
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