General insurance network CETA has reported a marked increase in demand for accident, sickness and unemployment (ASU) policies during the fourth quarter of 2001, reflecting increased economic uncertainty.
General insurance network CETA has reported a marked increase in demand for accident, sickness and unemployment(ASU) policies during the fourth quarter of 2001, reflecting increased economic uncertainty.
The network said there was particularly strong demand from people employed in the travel, finance and IT industries during the quarter, when compared to the same period last year.
CETA managing director David Quick said: "Unemployment is set to rise to over one million as high profile redundancy announcements made in recent months begin to feed through.
"Most UK households have a high level of debt and as more people begin to feel nervous about the security of their employment, they will be looking to ensure their mortgage and essential bills will continue to be paid if they lose their job."
CETA said although demand for ASU policies during 2001 had been greatest amongst employees of manufacturing companies, there had been a significant rise in applications from white collar professions.
