Brokers voice mounting underinsurance worries in non-standard market
A survey by Prestige Underwriting has revealed an uptick among brokers concerned about non-standard customers risking underinsurance.
The managing general agent found 92% of brokers believe that more non-standard customers are potentially underinsured due to efforts to economise on insurance costs.
The figure, in the latest edition of Prestige Underwriting’s Non-Standard Survey, was drawn from 99 UK brokers surveyed in February-March and more recently July to August.
The result was higher than a year ago when it stood at 89%.
According to the MGA, the prevailing consensus is that premiums have yet to realign with policyholder
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