I like these articles that stste modest increases when my Organic Fertilizer accounts umbrella went up an even 100% Minimal exposure change and a take it or leave it attitude. Beware my fellow brokers the hard market is breathing down our neck.
Also, I agree. When it turns, it’s going to be the “titanium market.” Also, work comp is going to turn first. There’s my prediction for the next year or so.
With the exception of cat related property exposures, WC/EL, some miscellaneous professional lines, aviation, etc, the hard market is not here.
Insurance companies are still investment vehicles and as long as there is capacity in the market and a bad economy the market will remain soft. Carriers who have been losing money will try to push rate on unprofitable accounts, but with a large amount of capacity still in the market, this will be hard to do. New carriers will take these accounts and try to make money from the float.
To see a more comprehensive turn to the market, you will have to see a major carrier fail. The business will still be underwritten but at different pricing, terms and conditions.
Yes, the P&C business is being fed by Wall Street, not insurance customers. As long as investors are looking for somewhere to place their money, with interest rates so low, insurance is as good as any. You can’t analyze this strictly from an underwriting loss ratio. Haven’t you noticed, oh insurance experts, how every third commercial on TV is now from an Auto insurer? Everyone saving you $400. The customer has only Wall Street to thank.
I like these articles that stste modest increases when my Organic Fertilizer accounts umbrella went up an even 100% Minimal exposure change and a take it or leave it attitude. Beware my fellow brokers the hard market is breathing down our neck.
Happy New Year
You do not know what you are talking about.
I will avoid the obvious pun.
Also, I agree. When it turns, it’s going to be the “titanium market.” Also, work comp is going to turn first. There’s my prediction for the next year or so.
What do you mean when the hard market comes? It is here and WC has already taken good increases.
With the exception of cat related property exposures, WC/EL, some miscellaneous professional lines, aviation, etc, the hard market is not here.
Insurance companies are still investment vehicles and as long as there is capacity in the market and a bad economy the market will remain soft. Carriers who have been losing money will try to push rate on unprofitable accounts, but with a large amount of capacity still in the market, this will be hard to do. New carriers will take these accounts and try to make money from the float.
To see a more comprehensive turn to the market, you will have to see a major carrier fail. The business will still be underwritten but at different pricing, terms and conditions.
Yes, the P&C business is being fed by Wall Street, not insurance customers. As long as investors are looking for somewhere to place their money, with interest rates so low, insurance is as good as any. You can’t analyze this strictly from an underwriting loss ratio. Haven’t you noticed, oh insurance experts, how every third commercial on TV is now from an Auto insurer? Everyone saving you $400. The customer has only Wall Street to thank.