South-West businesses are cutting costs by dropping part of their cover in the face of rapid rates increases, an insolvency specialist has warned.
Begbies Traynor, the UK's biggest independent business rescue and recovery firm, is already noticing business failures due to the crisis.
Its Bristol-based senior partner Andy Beckingham said companies in the South-West had undergone an average 400% rise in premiums.
"A worrying development is that some businesses are choosing to cut corners by dropping part of their cover, with the favourite choice being business interruption," he said. "We're beginning to see the first signs of business failure."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
