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Standard Carriers to High-Risk Property: ‘We Have to Talk’

Standard carriers that looked where they normally wouldnt for premium during the soft market are throwing the risk back into the ring for excess carriers.

By Chad Hemenway | Updated on June 18, 2012
One typical sign of an insurance market in transition from soft to hard is the shift of certain risks from the admitted universe back to the specialty market.

And according to some well-positioned industry sources, this is clearly starting to happen in lines such as high-risk property.

“Business that went to the standard market is now coming back,” Mark Lyons, CEO of specialty-insurer Arch Worldwide, asserted during a presentation on industry financials at Advisen’s Property Insights Conference held in New York this month.

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