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Anon at 14:01 I agree, the saving is likely to be marginal. I doubt the SRA's oft-quoted example of (I think) a 10% reduction would be replicated across the market: I strongly suspect it was a statistical outlier, but a broker or underwriter would be better qualified to comment than I am as a solicitor.

Top up cover, which would afford less protection, would cost more than any saving, so increase the cost for many firms.

There is also an illusion that any small saving will be passed on to consumers. I doubt that (and have heard apocryphal evidence to the contrary), particularly when other overheads are rising.