Predictions of Armageddon have been totally wrong
Tony Cornell looks at the state of the nation from a commercial insurance perspective
2015 is likely to be the 10th year that commercial premium rates will not increase. The optimism of mid-2014 is evaporating; falling oil prices, emerging markets’ downturns, Eurozone problems and uncertainty over the UK election result are causing revisions in forecasts – growth may not happen this year.
The table (right) attempts to show the position on rates over a 15-year period taking out inflation and economic growth. It simply divides total commercial premiums paid to ABI insurers by the
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