Michèle Bacchus spoke to brokers to find out their thoughts on regulation, their trade body and their opinion of the UK insurance market
There are more than 3000 insurance brokers in operation providing support and advice. Post asked them their opinions on the regulators, their trade body and the current state of the insurance market.
Between February and March 2018, a total of 144 UK brokers responded to an online survey created by Post. The questions pertained to a range of issues concerning insurers, regulation and governance, professionalism, digital technology and the future. Brokers answered on an anonymous basis and any reference to particular companies has been taken out. The survey was sent out to both personal lines and commercial lines brokers and more than 70% of respondents work in SMEs.
The full report is free from 1 May for premium subscribers or can be bought by contacting [email protected]
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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