The biggest concern for insurance buyers in 2007 continues to be unpredictable pricing and a lack of competition for coverage of catastrophe risks, one leading brokerage contends.
During the renewal process, buyers with cat exposures have faced restrictions in terms and conditions, reduced capacity, increased pricing and increased retentions, according to Duncan C Ellis, managing director of the property and international practice with Marsh in New York.
Despite the benign 2006 storm season, some insurers "continue to pull out or reassess their exposures…in coastal areas," Mr. Ellis noted during a recent webinar on "Preparing for the 2007 Hurricane Season & Insurance-Market Update."
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.
