Airmic survey reveals 50% of UK insureds expect single-digit increase
Premiums for property damage and business interruption are expected to climb by up to 10% in the next two years, research by Airmic has revealed.
The report found that almost 50% of commercial UK insurance buyers surveyed believed rates would rise by a single-digit figure, while about 15% thought rates would increase 10-20%.
More than one third of the 136 respondents did not anticipate any changes in premium levels.
The report revealed that just over 10% of those surveyed bought limits in the £100m-£500m range in 2012 compared to 40% in 2011.
But buyers in the £50m-£100m range increased to 40% from less than 10% over the same period.
Thirty five percent of respondents spent between £1m and £5m annually on their property damage and business interruption premiums
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.
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