Crisis threatens protection

The crisis in the housing market is the biggest threat facing the protection market, according to a Watson Wyatt report. Andy Sanders, senior consultant at Watson Wyatt, said the market was set for a challenging year with providers having to look towards product innovation to survive. The greatest threat is the "pessimistic" outlook for the housing market and in particular "the risk of a sustained decline in the number of residential property transactions taking place relative to previous years". He said that bancassurers were most likely to suffer as a result. However, Sanders adde...