Mr. Cullen is with Marsh's, Public Entity and Higher Education Global Brokerage Team. He discussed with listeners the firm's experience with the 2002 renewal season and the Sept. 11 effects on that market, which he said will last "for many, many years to come."

Property coverage is available, he said, but, where in the past it might have taken one or two principal carriers to underwrite an exposure, it was found it would take "many more" to cover the risk.

Clients can expect to pay more for coverage, Mr. Cullen observed. The underwriters are also adamant that the insured's coverage include greater deductible amounts.

Exposures involving dams or bridges cannot find coverage, said Mr. Cullen. More accounts are looking at alternative risk financing and the captive market, he said.

Umbrella, surplus and workers' compensation insurance are become "difficult" and "expensive" Mr. Cullen advised.

After an initial loss in capacity, aviation is beginning to see a comeback, though, again, pricing is higher, he observed.

On the life and employee benefit side, Mr. Cullen remarked that there has not been a "knee jerk" reaction to the events of Sept. 11. However, as events in the aftermath of the attack play out and claims increase, carriers may need to "reassess" premiums.

Mr. Cullen advised clients that if they have a long-term relationship with a carrier they should make every effort to continue it. However, it would be wise to review the company's solvency and claims payment history to ensure it is a company they feel comfortable doing business with.

Risk managers should also review their historical price trend when it comes to justifying the price of renewals, Mr. Cullen recommended. In some cases, he explained, clients may find that the value of the coverage remains better than it was in the early 1990's coming out of the hard market.