Duncan Sutcliffe, director, Sutcliffe & Co Insurance Brokers, explains, “Just like any industry, the insurance market goes through peaks and troughs. A ‘hard market’ is the upswing in a market cycle, when premiums increase and capacity for most types of insurance decreases.” A hard market can be caused by several factors: • Solvency Margins: Insurers…

Insurance companies are now more fussy than ever so if you want insurance for your care home to remain affordable and effective you need to make yourself attractive to the underwriters. One of the best things care businesses can do is to demonstrate a high standard of professionalism, risk management and a culture of ongoing…

After many years of ‘cheap’ insurance the rising costs of claims, various regulatory and legislative changes, falling investment returns, climatic events and coronavirus have forced insurers to take drastic steps to break even. The construction sector had the additional shock of Grenfell Tower, which has created far reaching concerns over high rise buildings, cladding and…

This has come about because insurance companies have struggled to balance their books in recent years but they now face a number of regulatory and legislative changes, a fall in the value of their investments, an increase in climate related claims and of course Coronavirus. All of these are forcing insurers to take a hard…