While the umbrella liability and excess casualty markets are attracting new players, along with past participants who swore off the segment years ago, most experts don't foresee the hard market pricing lure that typically brings new capital flooding into a market niche.
Even though rates aren't jumping, there are usually big premiums associated with umbrella policies, explained Paul Smith, regional placement officer for Willis HRH in New York.
Mr. Smith and Dan Aronson, a wholesale broker with Mercator Risk Services, both said the appetites of new entrants are somewhat dictated by limitations set by their reinsurers and capital providers.
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