New year, new start
The last 12 months have been difficult for the commercial insurance market, but there are signs that 2013 could see an upturn, says Paul Upton
The UK commercial insurance market remained fiercely competitive last year. Intermediated SME business appears to be the ‘new’ private motor for many insurers, a class they feel that they must be in regardless of prevailing rate strength and underlying profitability. Continued over-supply of capacity and the lingering effects of the economic downturn have made it difficult for insurers to adjust the pricing on their portfolios.
The direct effects of historic under-pricing in the sector were
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Commercial
Analysis: What does Labour’s first Budget mean for insurance brokers?
In the time since Labour won the election on 4 July there has been much speculation as to what their first Budget would contain. PFK Littlejohn’s Tom Golding looks at some of the key changes announced - and what these may mean for insurance brokers.
Insurance industry voices fears over NI and minimum wage hikes on SMEs as it responds to Budget
A host of insurance figures have expressed concern that Chancellor Rachel Reeves' Budget announcement today will mean SMEs could cut back on staff and business investment, as well as commercial cover putting them at greater risk of underinsurance.
Coalition adds another insurer to its UK capacity panel
Cyber specialist insurer Coalition has announced that US insurer The Hartford has joined its panel of UK capacity providers.
Start-up broker Native aims to tackle digital asset underinsurance after £2m seed raise
A new London-based specialist digital assets insurance broker called Native has launched today.
Clear seals largest deal with £76.2m “transformational” swoop for Lloyd’s broker
Clear Group has entered the wholesale Lloyd’s broker space with what it has described as the “transformational deal” for Lilley Plummer Risks - a marine and property specialist.
Addept signs distribution deal to bolster broker landlord offering
Addept Insurance Services has today announced an exclusive broker distribution deal with Title Guardian, a 24/7 digital anti-fraud property and identity monitoring tool.
MGA doubles D&O line size with Lloyd's capacity deal
Managing general agent Rokstone has doubled its directors’ and officers’ (D&O) line size from £5m to £10m after securing additional capacity from Lloyds’ Syndicates.
Clear adds £10m broker Vision to portfolio in South East
Clear Group has strengthened its presence in the South East buying Bagshot, Surrey-based Vision Insurance Services.