Hardening motor fleet rates – fact or fiction
Broker John Meredith asks where the balance of power lies when it comes to setting motor rates.
Hardly a week goes by without an article about hardening fleet rates or a statement from an insurer about their desire to achieve a loss ratio below 100%.
So is all this activity just rhetoric to "talk the market up" or are rates really hardening?
As an active retail broker my view is that attempts are definitely being made to increase rates both at individual case level and "across the board" but from experience such attempts are generally unsuccessful. As an example, a large niche broker
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