Implications of independence
If Scotland votes for independence there will be far-reaching implications and major upheavals for insurers and brokers, says Tony Cornell
Little has been said about the impact of a separate Scottish state on the UK insurance industry. This may be because it is unlikely to happen or that, if it does, the impact is likely to be low. I am sure UK insurers and brokers are making contingency plans but little can be done until a decision is made and more details are known.
Scotland accounts for 9% of the UK economy and, on this basis, the premium for mainstream general insurance (GI) would be about £3bn split 60/40 between personal and
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