Nearly all risk managers (96 percent) have significant concerns about the availability and pricing of coverage, according to a survey of member firms of The Independents—an international coalition of insurance brokers and risk-management-services firms.
The global survey also found that brokers believe their risk manager and buyer clients are concerned about managing risk with fewer resources and reduced budgets; particularly worried are those firms with large natural-hazard and supply-chain exposures.
John Eltham, head of North American business for Miller Insurance and founder of The Independents, tells NU: "Buyers have gotten much more in touch with their business. Risk managers now want more tailored insurance programs that reflect their specific exposures, their specific risks."
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