Home insurance profits – too good to last?
The home insurance market could be facing a rude awakening, says Tony Cornell
When I entered the insurance industry, a lifetime ago, household insurance was subject to tariff control. One rate was charged throughout mainland Britain. In current money, this was 12.5% on buildings including flood and 25% on contents. Subsidence was added at some time, free of charge. This all changed when post codes were introduced and computing power and data capture improved so profitability on a post code basis could be established.
When price controls were finally abolished, contents
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