Zurich worried about survey from Association of British Insurers

Fri, 12 Jun 2009

Zurich Insurance is anxious about the issues highlighted in a home insurance survey carried out by the Association of British Insurers (ABI). According to research from ABI/YouGov, an alarming number of people (22 per cent) say that in the last year they have cancelled or not renewed their home contents insurance to save money . A further 17 per cent were found to no longer have any buildings insurance .

Mike Quinton, Managing Director of Zurich's direct insurance business in the UK said: "This is a worrying set of statistics for all insurers . Customers have to realise that cancelling their buildings and contents cover may give them short term gain, but is likely to lead to long term pain should the worst happen."

Mr Quinton added that in the last few years Britain has seen major floods and storms and even tornadoes and earthquakes. He urges people to ensure that they have adequate insurance in place should these unfortunate events occur.
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