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No Light At The End Of The Tunnel Seen By Brokers On Soft Market Prices

Producers looking for a light at the end of the tunnel in this soft, increasingly competitive commercial insurance pricing cycle see no sign of a turnaround this year--or even into early 2009 at this

By Mark E. Ruquet | Updated on April 20, 2008

Producers looking for a light at the end of the tunnel in this soft, increasingly competitive commercial insurance pricing cycle see no sign of a turnaround this year–or even into early 2009 at this point, those agents and brokers queried by National Underwriter for their assessment of the state of the market agree.

“My sense is that this is early in the soft market, and we have not seen it fully develop,” according to Don Bowles, president of Dallas-based McQueary Henry Bowles Troy, an insurance brokerage firm that received an “Honorable Mention” in NU’s 2006 “Commercial Insurance Agency Of the Year” award program. “I still see a tremendous amount of capacity, strong balance sheets and adequate reserving.”

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