I worked in insurance for many years and became used to soft cycles. I recently sourced two quotations of a similar nature from Dorset Insurance and Gibbs Denley. Both quoted around £2,600.

When I spoke to Richard Thacker, which has a facility with Chubb, their exact words were: "You tell me the price you want and we will do it at that level". I was reluctant to do so, but when pressed I threw in a cheeky figure of £1,250. To my amazement this has now been confirmed to me in writing.

As I am now a customer I would be foolish not to accept the lower quotation, but Chubb's actions suggest to me that all underwriting principles are out of the window.

If this is the way in which insurers now behave it is inevitable that massive price fluctuations will again occur in the near future, because the insurers will then not have enough premium to pay any claims.

I am sure that other businesses only want what I want - consistencies in costs from one year to the next. In three to five years' time will my insurer demand a 30% increase because I have not been paying enough?

Will the insurance industry never learn?

Paul Jones