Hardening slower than expected
Clearly, Rates could not have gone any lower, yet many expected them to rise far higher and more quickly this year as the deepest recession for over 60 years was set to become the catalyst for a hard market. However, it has been a real struggle for insurers to gain meaningful rate increases: Aviva tried to lead the market towards the end of last year but was unable to gather enough momentum from other insurers to pull this through.
The lack of serious rate rises is happening for a host of
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