Commercial schemes may have had their day
The days of commercial schemes business may be over, according to Mark Cliff, commercial distributi...
The days of commercial schemes business may be over, according toMark Cliff, commercial distribution director of Axa.
Mr Cliff queried the value of the scheme concept, stating it is better to
underwrite risks individually that create a 'one size fits all'
package.
Mr Cliff admitted his views have been influenced by the current hard
market but added that schemes may now be completely outmoded.
He said: "There has been a realisation in this market that we have to make
money on the underwriting. I
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