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
The editorial team get their teeth into the top stories.Subscribe to our daily newsletter for all the latest news
- FCA warns of Moneysupermarket clone
- Documents reveal government actuary recommended a 0.25% discount rate
- Construction firm unable to find insurance due to lack of capacity
- Fact file: What’s the story with the Ogden Rate?
- Hastings expects £8.4m hit from Ogden rate change
- Insurers disappointed by the new discount rate
- Blog: What is JCT 21.2.1 insurance, and who needs it?