News analysis: Are we heading for an underinsurance crisis?

squeeze piggy bank

With businesses under severe economic pressure from Covid-19 and Brexit plus a range of other issues, insurance experts have warned that clients may be tempted to sacrifice cover in order to reduce their insurance spend. 

While underinsurance has been a challenge for the sector for a long time, the current economic climate combined with the hardening market, has pushed it higher up the agenda. 

Specialists cautioned that brokers may have some difficult conversations with clients ahead of them

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