Right on Bob! The article was talking about the US market wasn’t it? In 3/4 of the US this is one of the softest builders risk markets I’ve seen. I’ve seen rates drop by 50 – 60% in the last year or so in non-coastal (tier 1 & 2) counties.
I believe the article is referencing CAT exposed construction projects, not non-CAT.
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Yes, exactly, and its BUNK, I work in the industry, and they have it all wrong.
I agree for the most part with this article. There was definitely a drastic increase in price after the 2005 hurricane season from the Carolina’s to Texas not just in insurance costs, but for labor and materials as well. There has been a good bit of capacity filter into the marketplace from London and Bermuda, but a good bit of that has just been approved for FL business. The CAT market has softened slighlty in 07, but tri-county is still expensive to place.
This is all bunk, this whole article. I work in this industry and this just doenst jive.
Right on Bob! The article was talking about the US market wasn’t it? In 3/4 of the US this is one of the softest builders risk markets I’ve seen. I’ve seen rates drop by 50 – 60% in the last year or so in non-coastal (tier 1 & 2) counties.
I believe the article is referencing CAT exposed construction projects, not non-CAT.
I believe the article is referencing CAT exposed construction projects, not non-CAT.
____________________
Yes, exactly, and its BUNK, I work in the industry, and they have it all wrong.
I agree for the most part with this article. There was definitely a drastic increase in price after the 2005 hurricane season from the Carolina’s to Texas not just in insurance costs, but for labor and materials as well. There has been a good bit of capacity filter into the marketplace from London and Bermuda, but a good bit of that has just been approved for FL business. The CAT market has softened slighlty in 07, but tri-county is still expensive to place.