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Welcome to the 'new normal'

With a huge influx of capacity, significant rate decreases and fierce competition for business, emphasis on value delivered is more critical than ever for the Excess & Surplus market

By Phil Gusman | Updated on September 08, 2015

Anyone who has been in the insurance industry long enough has heard it before: “This market cycle is different.” This time, though, even veteran Excess and Surplus Lines professionals believe it might well be the case.

A combination of excess capital, much of it from non-traditional sources, and, to a lesser extent, the ability to put data and analytics to better use means the industry can absorb larger losses than ever before. With continuous new entrants armed with so much capital trying to get a return for their investors, a competitive market has taken root that would require a major catastrophic loss event to alter the current playing field.

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