Blog: Coping with a hard market
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Close Brothers Premium Finance MD, Paul Trail, looks how best the finance sector can support brokers as the market gets tougher.
Although the commercial market is hardening, it’s not straightforward as pricing varies across the lines. In construction and professional indemnity, premiums have been rising for over two years and have seen significant increases of 50% plus. Commercial fleet, by contrast, has seen only moderate price inflation.
In personal lines, motor and home premiums are static or falling; this disparity can cause confusion because business owners, getting reductions for their car insurance, will question
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