New insurers entering the market can take advantage of a third-party administrator (TPA) to manage claims without initially investing in expensive systems and teams. (Photo: OpturaDesignAdobe Stock)

Despite difficult macroeconomic circumstances, the insurance market has seen green shoots of recovery after years of depressed rates. We have seen combined ratios, excluding catastrophic losses, improve markedly and new entrants, both excess and surplus and admitted, emerged in recent months.

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