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What's Going On: Why CAT market will stay tight, despite low '06 losses

Here we are in November, and it looks as if the insurance industry is going to experience a 2006 hurricane season that is as mild as the 2005 season was wild. Unfortunately, that doesn't mean that agents in Southeast coastal areas will find much

By George F. Williams | Updated on October 31, 2006

Here we are in November, and it looks as if the insurance industry is going to experience a 2006 hurricane season that is as mild as the 2005 season was wild. Unfortunately, that doesn’t mean that agents in Southeast coastal areas will find much improvement, if any, in the windstorm market next year. Same goes for California agents struggling to place earthquake coverage.

Just why these markets will continue to be in a bind was spelled out at last month’s annual meeting of the Target Markets Program Administrators Association, which was held in Tempe, Ariz. Some 500 people were on hand for the meeting, which has attracted a steadily increasing number of attendees since it first was held a month after 9/11. Greg Thompson, president of Thomco, took over as the association’s president.

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