Actually having read this I this is down to supply and demand. The insurance company interviewed admitted putting prices up in line with the competition said they didn't want any more trade as they wouldn't be able to service the extra load. Therefore they have enough people on their books (hey I might be one of them) who have paid their premiums because they are 'happy' with the deal they got.
If supply dried up this company would soon drop its prices to attract more trade but at the moment they don't have to and, let's be honest, if we were making more money in our various lines of work, wouldn't we be doing the same?
Having said that anyone who doesn't shop around for insurance come renewal time is an idiot. Cheapest isn't always best but I hate paying more than I have to for the insurance cover I want and need.