Top 100 UK brokers report ‘crazy’ commercial rate reductions up to 50%
A number of Top 100 UK brokers have seen “crazy” rate reductions of between 40% and 50%, with savings in the hundreds of thousands of pounds during the ongoing competitive soft market, Insurance Age can reveal.
As part of the data collection for the ranking which will be released next week we asked brokers what had been the biggest premium price cut – by percentage and/or cost – they had seen from an insurer on a comparable risk (i.e. same cover as year before) in the past 12 months?
One broker remarked: “The market has been crazy, and we have seen anything from 5% to 40% reductions in premium.
“Our biggest [monetary] example would be a £100,000 reduction by the holding market before we started
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Blog: When a rebuild assessment comes back lower
A lower rebuild assessment might be welcomed, but also prompt concerns over whether part of a building has been overlooked. John Pirone, business development manager at RebuildCostASSESSMENT.com asserts this is where an honest conversation between the assessment provider, broker and insurer can help.
Broker Expo Bites, Episode Three: Brokerbility’s John Dunn
At the 2026 Broker Expo in Birmingham last month, Insurance Age caught up with Brokerbility managing director John Dunn.
Blog: Go again times three – the options facing David Martin at PIB
Rosie Simms analyses the three potential routes incoming PIB CEO David Martin could take when he steps into the role next year.
Marsh to buy $221bn asset manager Wilshire
Marsh has signed up to buy global investment consulting, solutions, and analytics firm Wilshire in a deal expected to close in the first quarter of 2027.
Broker Expo Bites, Episode Two: Moorhouse’s Ian Brown
Moorhouse chief risk officer Ian Brown is the latest delegate from the 2026 Broker Expo in Birmingham last month to step up to the mic.
Boom and PremFina partner up
Premium finance provider PremFina has partnered with Abacai Technologies’ car insurance digital brand Boom, an appointed representative of Top 100 Broker Dayinsure.
Brokers point to rising risk of underinsurance
The main drivers of underinsurance in the non-standard market are incorrect property valuations or lack of awareness about reinstatement costs, according to a survey of brokers.
FCA kicked off 2026/27 with no insurance S166s
The Financial Conduct Authority did not open a skilled person review into any firms in the insurance sector in the first quarter of 2026/27, the first time this has happened for over a year.