That’s a bunch of crap. We’ve seen pricing for Mortgage Brokers E & O up as much as 10 times last year’s rates, if you can even get a quote with retro!!!
Most carriers eith aren’t renewing, raising their rates or offering RDI policies only!
Mark,
At the C&S dinner in New York in December we heard from a broker that an Fin’l Inst client had seen a 70% price increase in D&O. We assumed that this would be the case.
Looking at the data that comes in via the RIMS Benchmark Survey and from our data sharing broker partners, there were few exceptions to the soft market rule, even among FIs.
That’s why we ran an additional survey ahead of the ABA Conference, which confirmed the findings.
That being said, I still find it incongruous and would be happy to work with you to include your clients’ data in our data set so that we increase the accuracy of the findings.
Feel free to contact me on mpower@advisen.com to arrange.
That’s a bunch of crap. We’ve seen pricing for Mortgage Brokers E & O up as much as 10 times last year’s rates, if you can even get a quote with retro!!!
Most carriers eith aren’t renewing, raising their rates or offering RDI policies only!
Mark,
At the C&S dinner in New York in December we heard from a broker that an Fin’l Inst client had seen a 70% price increase in D&O. We assumed that this would be the case.
Looking at the data that comes in via the RIMS Benchmark Survey and from our data sharing broker partners, there were few exceptions to the soft market rule, even among FIs.
That’s why we ran an additional survey ahead of the ABA Conference, which confirmed the findings.
That being said, I still find it incongruous and would be happy to work with you to include your clients’ data in our data set so that we increase the accuracy of the findings.
Feel free to contact me on mpower@advisen.com to arrange.