NU bids to banish 'boom-bust' cycle

Norwich Union (NU) has written to all its brokers strongly urging them to back the industry's drive to call a halt to the boom-bust volatility of the underwriting cycle.

John Seaton, underwriting and pricing director at NU commented: "Breaking the pattern of constantly fluctuating premiums is in everyone's best interest - intermediaries and their clients, as well as insurers. It is up to all of us in the industry to end the volatile cycle of highs and lows."

He said that insurers need to impro