Change stacked next to a toy wooden house, a downward point air is above the home. "The combination of people's finances being squeezed and their opinions of insurers being low threatens to widen the insurance gap in ways that could make consumers far more open to harm," René Schoenauer, director of EMEA product marketing for Guidewire, said. (Credit: candy1812/Adobe Stock)

As consumers worldwide continue to feel the pressures from supply chain snarls and cost of living increases, around half (48%) of U.K. consumers said they would look to cut costs by eliminating nonmandatory insurance coverages, according to a survey from Guidewire.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
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.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Coverage & Policy Issues
Customer Experience
Personal Lines