Covid, Brexit, Russia’s invasion of Ukraine and the cost of living crisis are all factors that have plunged the UK into a challenging economic climate.
Now, with a looming recession, explosion in malicious cyber activity and prolonged political and financial market instability, there is little cause to be optimistic. The insurance market is going through the longest ‘hard’ phase in history, with prices spiking, cover being withdrawn and dispute rates soaring.
In this FT Adviser article, Bruce Hepburn, chief executive officer at Mactavish, alerts companies to the fact that “the insurance market is broken, and the old-fashioned way of buying insurance will not get businesses the outcome they need in this environment.”
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