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.
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© 2009 Robert L. Carter OBE and Peter Falush
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Carter, R.L., Falush, P. (2009). Commercial Insurances. In: The British Insurance Industry Since 1900. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230239524_7
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DOI: https://doi.org/10.1057/9780230239524_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-30511-7
Online ISBN: 978-0-230-23952-4
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