Friday 19 January 2018

Pro-competition move by Laya is very welcome

There is a big prize at stake and insurers have decided to go hell for leather to win it
There is a big prize at stake and insurers have decided to go hell for leather to win it

THE maxim 'competition is the life of trade' is as old as commerce itself. Most people in business would understandably prefer a captive market and a healthy profit margin with minimal effort. But honest business people will also acknowledge that many business advances were thought through in the teeth of efforts to deal with tough market competition.

Healthy competition is not just good for consumers -- in the longer run, it is also good for the general business environment.

On that basis, almost everyone across the country will welcome news today that the country's second biggest health insurance operation, Laya, is launching a series of new cut-price packages. Some of these may be up to 40pc cheaper than comparable cover under existing policies.

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