Prestige Underwriting has forecast that the level of financial stress among UK consumers will grow and drive an increase in the number of people who fall into the non-standard customer segment in the coming six years.

Prestige commissioned research from Finaccord. It forecasts that insolvencies will exceed the level seen in 2009 and estimates that an extra 1.1 million renters and homeowners will receive County Court Judgments, bringing the cumulative total of people with CCJs to 6.7 million by 2030.

Alison Williams, managing director at Prestige Underwriting said: "Non-standard customers as a segment include people with motoring and non-motoring convictions and people in financial stress. The intensification of heightened consumer financial stress is very concerning for the insurance sector and wider economy.

“All insurance providers need to be attuned to the evolving needs of their clients and we must all find solutions that cater to this changing financial landscape while maintaining the integrity of coverage.”