Nearly five years ago–back in the July 23, 2001 edition of National Underwriter–we stepped into an actuarial time machine and forecast the “Top 10 News Stories of 2005,” as viewed from the perspective of the property-casualty insurance industry. In this follow-up piece, we boldly examine the accuracy of our forecasts and their implications, as well as peek ahead to spotlight issues the industry might be facing five years down the road.
1. Underwriting Cycle Heads South Again:
We might just as courageously have predicted the sun would continue to rise and set, given that the industry seems determined time and again to use its competitive pricing tools to erode hard-won profit margins.
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