The West of England’s decision to apply a general increase of 5% could encourage others to follow suit despite forecasts that all 13 members of the International Group of Protection & Indemnity Clubs can afford to hold off on a rate rise for at least another year.
One broker described the West of Englands' decision as “brave”, with the mutual going against the general expectation of a freeze on rates and running the risk of committing a marketing blunder by raising them while others keep a lid on premiums.
