Market watch - commercial motor: Has commercial motor gone flat?
Though the economy continues to be troublesome and commercial motor is still highly competitive with small margins, there are some areas of improvement and growth, writes Fiona Nicolson.
The economic turmoil of the last few years has created many challenges for the insurance industry and the commercial motor sector has been no exception. Customers have tightened their seatbelts, premium income has continued to crash and insurers and brokers have felt the impact. Can the commercial motor sector find top gear again?
Customers are still cautious about costs, says Matthew Collett, marketing director at Romford based broker Grove & Dean: "Businesses are not employing as many people.
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