Fears over drop in household profits.
The household insurance sector is facing the worst year of profitability since 1991. According to th...
The household insurance sector is facing the worst year ofprofitability since 1991. According to the Bacon & Woodrow report,
Household Insurance - the perils of the cycle, insufficient premium rates,
alongside the January storms and Easter floods, are to blame.
The industry cost of this year's storms is estimated at £200m, while the
floods have added another £400m. Bacon & Woodrow predicts that these
pressure factors will cause the "forecast" operating ratio for 1998 to
rise to 116%. In response
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