Industry must not lose focus on core skills, says Norwich Union

Norwich Union (NU) has appealed to the industry to stop talking rates down, or risk perpetuating the seven-yearly 'boom and bust' underwriting cycle.

The insurer has urged the industry to focus on core skills such as consistency in pricing and disciplined underwriting standards and to ignore the current gloomy forecasts of falling premiums.

"The negative mindset, whereby people believe bad things are going to happen, can unfortunately become a self-fulfilling prophecy," said John Seaton

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