Travel hikes spell trouble for schemes brokers
Following the rise in insurance premiums from Axa, Peter Hayman, director of P J Hayman, has predicted that some scheme holders will have difficulty renewing on competitive terms.
Mr Hayman said the increase would particularly affect the cheaper end of the market consisting mainly of internet and aggregator products.
He added: "Recently I predicted that the travel insurance market would start to see sharp rises in the travel insurance premiums, which will be exacerbated by the impending rise in Insurance Premium Tax. It seems that this has now begun.
"This week, the UK's largest travel insurer, Axa, went public announcing "double digit" rises to be expected on their book
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