Search
 

Bank of England warns insurers to stop cutting prices to win business

The London insurance market shouldnt keep cutting rates to secure business because it may not be adequately pricing the risk it is taking on, the Bank of England said.

By Sarah Jones | Updated on September 21, 2016
A car is towed through a flooded street in Egham, England, Thursday, Feb. 13, 2014. The River Thames burst its banks after reaching its highest level in years, flooding riverside towns upstream of London. (AP Photo/Sang Tan)

(Bloomberg) – The London insurance market shouldn’t keep cutting rates to secure business because it may not be adequately pricing the risk it is taking on, the Bank of England said.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.