Search
 

Is A Second Hard Market Ahead In 2004?

Is A Second Hard Market Ahead In 2004? Every commercial insurer executive interviewed for this edition identified the same set of issues facing the industry ...

By Susanne Sclafane | Updated on January 07, 2004

Is A Second Hard Market Ahead In 2004?

Every commercial insurer executive interviewed for this edition identified the same set of issues facing the industry in 2004a list that included sustaining profitability in a stabilizing rate environment. But only David Zwiener, chief operating officer of property-casualty operations for The Hartford, raised the possibility of a second hard market ahead in 2004.

“The hard market weve enjoyed for the last few years is probably the result more of actions taken by the primary companies [than] what is a more traditional hard market created by the reinsurance community,” he observed. “What we could have play out in 04–something were watching–is a traditional reinsurance-led hard market, as [reinsurers] raise rates to achieve the kind of profitability they need. That could drive firmness into the overall market in a more traditional way.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.