Risk Management Solutions' revised catastrophe model, which is frequently cited as a reason for recent rate increases for some property risks, was a hot topic at the National Association of Professional Surplus Lines Offices convention, held in San Diego Oct. 10-12.
So we decided to ask some attendees: How are brokers and insureds handling the news that premiums are going up, in part due to a model revision?
“Not well at all,” said Judy Patterson, a property underwriter at specialty-insurer Beazley.
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