A significant amount of business that found a home in the excess and surplus lines market during the last three years is moving back to the standard markets, wholesalers agree. However, during recent interviews with National Underwriter, they expressed varying views about which business is making the most dramatic exits.
"I don't see any consistency of any one product doing that. Today it might be MGA business. We're also seeing some of the transportation business move back," said Stephen Allen, executive vice president at DVUA in Raleigh, N.C.
"One day you'll renew a products [liability] account and everything will be fine. The next day, you may try to renew something very similar and the standard markets…end up writing it," he added.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 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.
