The Inland Marine market has long been alluring to carriers given its high profit potential, even when other insurance sectors are suffering.
In fact, its average combined ratio for the period 2001-2010 is an impressive 85.9, according to the Inland Marine Underwriters Association.
Inland Marine "consistently performs with a very profitable combined ratio below 100. It's very consistent, and commercial insurers look at that," says Michael Berg, global Inland Marine product leader for Allianz Global Corporate and Specialty. Additionally, "Inland Marine lines are short-tailed lines, so we're not dealing with losses that drag on and on," adds Berg.
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.