Strict Underwriting Needed

Monday, August 20th, 2001 Risk Management

Despite improvements in pricing from a hardening property-casualty market, underwriting discipline is the key for insurers looking to make up ground lost to the years in a soft market. This was the observation of one executive during an online panel discussion conducted as part of the two day "Producers Forum Online," out of King of Prussia, Pa. "Price increases will not solve all of the problems the [insurance] business is dealing with," said Bruce Connell, executive vice president, group underwriting officer for XL Insurance in Bermuda. Insurers will have to take a closer look at their business and pay more attention to their underwriting to make up ground lost during the more than a decade long soft market, said Mr. Connell.

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