Commercial Insurances

Robert L. Carter and Peter Falush
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Robert L. Carter: University of Nottingham

Chapter 7 in The British Insurance Industry Since 1900, 2009, pp 82-107 from Palgrave Macmillan

Abstract: Abstract Whereas Chapter 5 dealt with personal insurances, this chapter will cover the developments in commercial and industrial insurance. Commercial insurance, excluding reinsurance and marine, aviation and transport (MAT) insurance with UK premiums of around £13.3bn in 2007 (see Appendix 4), generates only about one-half of the premiums for personal insurances, but the complexity of many of the risks insured requires considerable underwriting expertise and underwriting capacity. The continuing unprofitability of its commercial lines accounts persuaded the Prudential in 1991 to limit its general insurance business to personal non-life insurances, and withdraw from all commercial lines.

Keywords: Commercial Insurance; Liability Insurance; Marine Insurance; Business Interruption; Premium Income (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-23952-4_7

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DOI: 10.1057/9780230239524_7

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