Backchat has heard how the soft market is taking hold of certain lines of business.
It seems Norwich Union (NU) is driving down costs "in a stupid manner", according to our broker source. He had called an NU office in the Midlands and asked how its rates were so low. Obviously rates had come down because of competitors, said the NU office. And who is the major competitor? "Norwich Union's Leeds office," was the reply.
