AmTrust’s UK liability exit could be the “tip of the iceberg” in terms of providers losing their appetite for some business lines, brokers have warned.
Insurers are also expected to hike UK liability premiums by 10%-15% following the move.
Insurance Age revealed last week (28 November) that AmTrust was to cease operations in UK liability with the book set to go into run-off in January 2019.
Dave Mackie, North West regional manager at PIB, said: “AmTrust supports many other insurers or facilities
- Experts urge brokers to look over remuneration after FCA warning on GI distribution failings
- Wonga's Tara Waite (formerly Kneafsey) returns to insurance with Ageas role
- Nick Milton to develop Pen Underwriting’s broker strategy replacing Simon Taylor
- Tokio Marine Kiln’s Blundell joins Biba
- Brexit and customer fairness dominate FCA 2019/20 plans
- FCA proposes £537.7m fee budget for 2019/20
- PIB seeking to raise £100m - £200m to fund growth