Insurance firms could face huge losses

According to a recent report the insurance industry could be facing huge losses as a result of the global credit crunch, with tighter household finances forcing many consumers to either downgrade or cancel their insurance cover in order to make ends meet each month. A survey was carried out by officials at Deloitte, and showed that around one if every four consumers were planning to either cut or cancel insurance cover in order to save money at what has become a very financially turbulent time. Read more

Tags: party, payment, housing, global credit crunch, savings insurance, Insurance, level