Under-insurance is the prime symptom. In the UK one in four homes has no form of home insurance. In London the figure is 45 per cent. Fewer than one in three Brits has life insurance. It leaves families unprotected and vulnerable.

Low trust is also perilous for insurers. Consumers with a low sense of trust exhibit are flighty. Brands must compete on price, leading to wafer-thin mark-ups on policies with budget-grade coverage.

Insurance is vital for a happy society. Trust the foundation stone of insurance. If providers can not address the crisis in trust, they will continue to fail consumers, and risk being replaced by rivals who can.