I’ve never read a bigger load of BS…
In my market I’m seeing Surplus lines markets so hungry that they are under-pricing standard business and trying to compete with Standard carriers….not the opposite which is suggested in this article….
Tom:
I’ve been seeing the same thing especially out of Essex. They are by far the worst of them all, at least in my market. I regularly see them take an account, cut the price by 30,40,50% sometimes more AND broaden coverage at the same time.
It makes you wonder who’s watching these “underwriters” if you even want to call them that. I don’t think what they do could even be classified as underwriting in any sense of the word.
I am an E & S Underwriter and who was it that started giving away the shop! Giving every sub-limit out there and some made up – it was the Standard guys.
History shows us that when you do something that someone else has been doing a long time, you usually get your head handed to you. Just like banks in the insurance industry.
I’ve never read a bigger load of BS…
In my market I’m seeing Surplus lines markets so hungry that they are under-pricing standard business and trying to compete with Standard carriers….not the opposite which is suggested in this article….
Tom:
I’ve been seeing the same thing especially out of Essex. They are by far the worst of them all, at least in my market. I regularly see them take an account, cut the price by 30,40,50% sometimes more AND broaden coverage at the same time.
It makes you wonder who’s watching these “underwriters” if you even want to call them that. I don’t think what they do could even be classified as underwriting in any sense of the word.
I am an E & S Underwriter and who was it that started giving away the shop! Giving every sub-limit out there and some made up – it was the Standard guys.
History shows us that when you do something that someone else has been doing a long time, you usually get your head handed to you. Just like banks in the insurance industry.