Insurance rates (all kinds of insurance)are certainly not low in the New Orleans area. They were 3 years ago, but not now. NoLa could be the place to underwrite if you want to show a profit.
I can tell you that in the Midwest, there are companies getting ready to feel some real hurt in Illinois construction, in particular. Also, I’m not thankful that our agency did not drink the Cincinnati Kool-Aid as that company heads for significant problems. I also see West Bend, Allied, and Acuity running combined ratios over 100. How long can they? All three, especially with their storm and construction deterioration, are not going to be players in 2009 and into 2010. Someone please explain to me what Indiana is doing?
This info was posted under another blog. Is there truth that the current market condistions will create some sizable acquisitions or mergers? The other blog stated to watch for 2 companies primarily located in the East, but with fingers that stretch through the Midwest are vulnerable. They are $1 billion to $2.5 billion in size, and heaviest in Commercial Lines. As a Midwest agent screaming at the insanity of companies like Indiana Insurance (Liberty Mutual!!) I wonder if there is truth that some carriers will be off the street by the end of 2008 or into 2009. What next?
A soft market is coming? I thought we had been in one for the past two years…. I just a auto policy with liability only for $115, to a 26 yr old male. If the rates get any lower, we’ll see a lot of companies fold or pull out of the state.
I was at a dinner with Paula (Safeco) and she is still telling anyone who will listen that the market won’t harden until late 2009 or into 2010. Now I’m not sure how credible someone from the utilities industry is, while posing as an insurance CEO, but I get the feeling that she has some insight from Lib Mutual folks who do not have to report to stockholders. Get it? Lib Mutual / Safeco / Liberty Regional Carriers / Wausau will continue to drive this soft market until their combined ratio’s are crawling around 120. And that could take 2 more years. What else is new?
Insurance rates (all kinds of insurance)are certainly not low in the New Orleans area. They were 3 years ago, but not now. NoLa could be the place to underwrite if you want to show a profit.
Is there an up-to-date article available which presents the reasons for the existence of the cycle at something lower than the 100 mile level?
I can tell you that in the Midwest, there are companies getting ready to feel some real hurt in Illinois construction, in particular. Also, I’m not thankful that our agency did not drink the Cincinnati Kool-Aid as that company heads for significant problems. I also see West Bend, Allied, and Acuity running combined ratios over 100. How long can they? All three, especially with their storm and construction deterioration, are not going to be players in 2009 and into 2010. Someone please explain to me what Indiana is doing?
This info was posted under another blog. Is there truth that the current market condistions will create some sizable acquisitions or mergers? The other blog stated to watch for 2 companies primarily located in the East, but with fingers that stretch through the Midwest are vulnerable. They are $1 billion to $2.5 billion in size, and heaviest in Commercial Lines. As a Midwest agent screaming at the insanity of companies like Indiana Insurance (Liberty Mutual!!) I wonder if there is truth that some carriers will be off the street by the end of 2008 or into 2009. What next?
A soft market is coming? I thought we had been in one for the past two years…. I just a auto policy with liability only for $115, to a 26 yr old male. If the rates get any lower, we’ll see a lot of companies fold or pull out of the state.
I was at a dinner with Paula (Safeco) and she is still telling anyone who will listen that the market won’t harden until late 2009 or into 2010. Now I’m not sure how credible someone from the utilities industry is, while posing as an insurance CEO, but I get the feeling that she has some insight from Lib Mutual folks who do not have to report to stockholders. Get it? Lib Mutual / Safeco / Liberty Regional Carriers / Wausau will continue to drive this soft market until their combined ratio’s are crawling around 120. And that could take 2 more years. What else is new?