Lloyd's Ready To Drive Full Speed Ahead Can you imagine driving a car while keeping your eyes glued to the rearview mirror, only glancing forward every once in awhile to see what's in front of you? You could never step on the gas and speed ahead–not without risking a major accident.
Yet that is exactly what most commercial insurers are doing these days. Sure, they are glancing nervously at the challenges and opportunities ahead–trying to write terrorism coverage at a reasonable rate, increasing premiums to counterbalance poorly-producing investments, tightening coverage terms and cutting limits to make sure books are profitable.
But few are able to accelerate with any confidence, not with millions, and in some cases billions of prior-year losses in asbestos and other old claims to reserve for, and not with low returns-on-equity making new capital hard to come by.
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