Pressures on fleet market push rates upwards
Figures from Acturis and opinion from market specialists indicate that fleet rates now look set to rise after many months of premium falls and stagnation.
Latest figures from the Acturis Commercial Lines Index show a small rise of 0.5% for Q3 2002, while in Q2, they fell by -2.1%. Since spring Q1 2020, fleet premiums have been trending downwards, with only two positive movements recorded since then (0.3% in Q1 2020 and 0.2% in Q2 2021) - this means the latest 0.5% is the largest, potentially signalling the corner has been turned.
Martin Heywood, fleet specialist and office manager for broker Bluedrop Services, said. “It’s happening quite slowly
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Commercial
Zurich ‘simplifying’ trading with broker team changes
Zurich has consolidated its commercial and retail distribution teams as it aims to make trading with brokers easier.
Brown & Brown snaps up family-owned broker since 1877
Brown & Brown (Europe) has bought two brokers: family-owned Garratts Insurance Brokers Limited and BNF Insurance Services.
Biba 2024: Brokers and insurers have huge role to play in raising awareness of Martyn’s Law
The insurance industry has a huge role to play in raising awareness of the incoming legislation aimed at protecting premises from terrorism attacks, the audience at the British Insurance Brokers’ Association’s 2024 conference has heard.
TBIG invests in Deva
The Broker Investment Group has taken a minority 49% stake in Chester-headquartered Deva Risk Group in its sixth deal of the year.
Biba launches guide on commissions
The British Insurance Brokers’ Association has launched a guide at its 2024 conference designed to help demystify the commission model.
Biba Conference 2024 countdown: Zurich’s Jacqui Kelly
Jacqui Kelly, head of sales and distribution at Zurich, looks forward to the positive buzz, celebrating an important birthday and helping the industry become more inclusive.
Movo to launch network for directly authorised brokers
Movo will launch Movo Fusion, a network for directly authorised brokers, in the coming months with a pilot starting on 1 June Insurance Age can reveal.
Arch claims parametric first with events cancellation product
Arch Insurance International has launched a specialist regional events insurance for UK-domiciled insureds, available via Arch IQ, its quote-and-bind platform.
Most read
- ‘Not right’: Biba CEO Trudgill reveals sad letter of small broker crushed by regulation
- Jensten wholesale division split sees MD Simon Taylor exit
- Video Q&A: Close Brothers Premium Finance MD Shaun Hooper