Travelers, nationwide, is undercutting competition and leaving gobs of premium on the table – I have personally seen deals where $100,000 or more is left out there on a $500,000 account. Investment income is nil and losses are steady. Just hold on and wait for the rapid increase in CR. The Southeast’s CAT season is only half way through. Better cross those fingers.
They are simplygoing for market share at this point thinking they will get more rate for the same business next year. The way that this market is going, that’s not bloody likely!
I don’t see Travelers undercutting everyone – we actually see all companies taking a play in the market on the package side, including Hartford. If I were to pick one dominant in the package market – I simply could not right now – it is more about leveraging the deal and making sure all the players are there at the party. Carriers have always bought business, sat on it awhile and then creep up the premiums over time – nothing new.
Travelers, nationwide, is undercutting competition and leaving gobs of premium on the table – I have personally seen deals where $100,000 or more is left out there on a $500,000 account. Investment income is nil and losses are steady. Just hold on and wait for the rapid increase in CR. The Southeast’s CAT season is only half way through. Better cross those fingers.
They are simplygoing for market share at this point thinking they will get more rate for the same business next year. The way that this market is going, that’s not bloody likely!
They have a pretty big war chest and are aimed squarely at The Hartford’s book.
That’s what I’m seeing day to day. They are buying up accounts left and right to gain market share.
I don’t see Travelers undercutting everyone – we actually see all companies taking a play in the market on the package side, including Hartford. If I were to pick one dominant in the package market – I simply could not right now – it is more about leveraging the deal and making sure all the players are there at the party. Carriers have always bought business, sat on it awhile and then creep up the premiums over time – nothing new.
Andrea Luoni
CEO
http://www.ratecraft.com