Report On Insurance Marketplace Conditions
Tuesday, April 20th, 2004 Liability Property Risk ManagementWillis Group has also issued a report on market conditions in the industry (see related articles). The international broker said it had reached the following conclusions: -- Competitive conditions return to certain segments of the marketplace. -- Capacity has grown, but not everywhere. -- Quality of risk profile is key in negotiating terms and conditions. -- Sarbanes-Oxley requirements coming on line may impact D&O liability claims and underwriting. -- Marketplace security issues remain, although industry conditions are improving. The report noted that "healthier conditions in the insurance industry have led to growth in capacity and competition, while some segments remain "hard" and continue to challenge risk managers." It examines three core marketplace segments - Property, Casualty and Directors & Officers Liability - and also looks at the overarching issue of Marketplace Security."
