Engineering change.

The engineering insurance sector has seen major upheavals over the last year but now the dust is settling and the future is looking brighter says David Fanning.

With substantial mergers, company reorganisations and new product
launches, the engineering insurance and inspection sector has undergone a
lot of change in the past year or so. Most of the outcomes are good and
will benefit brokers and their customers, but not everyone sees it that
way. Phil Alcock, commercial director of Stoke-on-Trent broker Eric
Rawlins, says that the changes are not necessarily good for the broking
community: "Levels of service are poor and we have had significant
problems

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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