Market hardening fast-tracked by Covid-19 crisis

Coronavirus

The Covid-19 outbreak has accelerated the hardening of the UK insurance market, with rates being pushed up as insurers scramble to respond to the crisis.

Last year, Insurance Age reported that pockets of the market, including the construction and professional indemnity sectors, were seeing rate increases, with brokers reporting reduced capacity and difficulties in placing certain books of business.

“There’s probably an unstoppable momentum towards a hardening market, even if in some areas it

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