Personal lines exits highlight need to avoid reliance on single insurer
Reduced insurer appetite in the personal lines market should serve as a timely reminder to brokers to avoid the pitfalls of placing all their eggs in one basket.
After disappointing results for 2010, Ecclesiastical is the latest insurer to look to balance the books and cut back on unprofitable lines and as our timeline shows, it is by no means the first to do this. The past two years have seen several insurers exit areas of the personal lines market in an effort to push up profits.
The knock on effect has been a contraction in the market, especially in personal motor which has led to some rate hardening.
On the commercial side of the fence, however, we
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