How Long Will the Hard Market Last?

Topics:
Property
Tags:
Business Operations,
Corporate Insurance,
Finance,
Financial Planning,
Insurance
Source:
Risk and Insurance Management Society

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Overview: In the 2001 calendar year, the insurance industry experienced the worst one-year underwriting loss, $52.6 billion, and the worst pretax operating loss, $13.8 billion, in history. Looking at other 2001 surplus losses, personal lines lost about as much as commercial lines and professional reinsurers lost nearly 20 percent of their surplus. The article focus point lies on the question that how long will the hard markets last and tries to find the answer that depends on the financial condition and the problems of the market or the line of insurance in question. This article concentrates on the current status and future for property/casualty commercial lines, and touches on personal lines and reinsurance where these affect the overall state of the commercial lines markets.

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Format: PDF | Size: 91KB | Date: Jan 2003 | Pages: 10

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