Advisen suggests long-term hard market on the way

Download PDF

A recent article on Advisen suggests a gradual and prolonged hard market is coming, due to drained capacity, continuing catastrophic losses, and the inability of carriers to recoup underwriting losses by virtue of their investment portfolio.   (See the full report here)

Could we be seeing a return to underwriting and pricing sanity soon?

I’ve had a couple of carriers take some conservative actions lately, and I note two carriers have pulled out of preferred Agents E&O business.  I’m hopeful this does portend a firming of the abysmally soft pricing.  I’m also hopeful that carriers will not engage in the usual knee-jerk reflex terminations of programs and classes of business that we usually get to see along with the price increases.

Fingers crossed!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Professional Liability Tidbits © 2014