Jenny Messenger 13 April 2015
Ongoing cost cutting in the mining and metals industry is leading to progressively lower insurable values and greater competition among insurers as the sector softens, according to Willis.
Consequently, insurers are now required to write larger shares of programmes to maintain or grow their premium income, Willis said.
The broker explained that a lack of construction projects had also contributed to the softening market, as insurers were being forced to compete even more fiercely for operational programmes to compensate for...
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This article was published as part of issue April 2015/3