Crowd control.
Fallout from the private motor sector looks set to continue as too many insurers chase too little business. Andrew Newman asks what lessons can be learned from those already forced out.
Despite some recent high profile withdrawals, there are still far toomany players in the private motor market. Pundits have given up debating
whether the market can support the current number of insurers - all
attention is now focussed on who will be next to go belly-up.
It is difficult to predict just how many motor insurers will disappear in
the coming months. However, Datamonitor gloomily estimates that about 30%
of the market will be swept away.
Michael Gaughan, marketing manager at
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