London, United Kingdom, April 16, 2016 --(PR.com
)-- TD The Market Publishers, Ltd. is pleased to inform that a new research study discussing commercial insurance distribution trends in the UK is now available at its website (MarketPublishers.com).
In the UK, commercial insurance has turned into a market with severe competition amongst players, and distribution of commercial insurance products is currently evolving.
According to this report, brokers remain market leaders in terms of distribution of commercial insurance. Their market share is more than 78 percent. There are few global companies dominating the broker space and a large number of less significant players.
The broker market is set to continue consolidating in the upcoming years, though a rate of acquisitions will be lower than it was about a decade ago.
Brokers increasingly focus on developing online propositions, but provincial players are more reluctant to develop them than brokers based in big cities.
With the Insurance Act 2015 coming into force this summer, the commercial contract law will see a number of changes. For instance, contracts will become more certain and the responsibility of compliance will be passed to insurers.
Read more at https://marketpublishers.com/report/business-finance/general_insurance/uk-commercial-insurance-distribution-2016-an-industry-where-adapting-to-market-is-key.html