Welcome To Jurassic Park?

Now that the market is hard again, more corporate insurance buyers are checking out alternative risk-transfer options, either out of curiosity, disenchantment with the fickle property-casualty industry, or plain desperation to get coverage or contain costs.

However, no one should imagine for a second that p-c insurers will go the way of the dinosaur anytime soon.

That possibility was raised earlier this month during Standard & Poors annual insurance conference. An S&P official brought it up after citing the growing captive market and the slow, but steady movement towards other alternatives, such as insurance securitizations.

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