Soft markets - soft targets
The emergence of profit has brought about softening markets, but established brokers must maintain discipline to avoid destabilisation
UK Insurers have reported improved results for 2003, a trend likely to continue into 2004, and insurers have taken a lot of action since the huge losses of five years ago. Improvements have been achieved through rate increases and focusing on the core disciplines of risk selection, risk management, efficient and cost-effective claims handling, and tight cost control. However, with the emergence of profit, we are now seeing the start of price competition.
One area that is showing signs of
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