Insurers are increasingly offering three-year fixed premium deals on commercial business, in a move to combat the softening market and maintain market share.
Business Insurance Solutions client account manager Stuart Stead said three-year deals were "coming back into fashion" in "direct response" to the softening market.
The growth of the deals was happening across the commercial lines market, he added. Community Broking Group managing director Martin Lewis said the deals were not yet widespread, but that certain carriers were becoming more willing to consider them for the right risk.
He agreed this was in response to the softening market. "All the carriers are looking for something to differentiate themselves."
A spokeswoman for Zurich said they had offered the deals for the past year or so, but "we haven't found them hugely popular to date".
But insurer Allianz Cornhill said it was not offering three-year deals to brokers.
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