Filed Under:Agent Broker, Agency Management

E&S Execs Say Soft Market Not The 'New Normal'

NU Online News Service, Nov. 24, 12:01 p.m. EST

Participants in the excess and surplus lines industry generally expect a replay of 2010 market conditions in 2011, but that does not mean they believe the soft market is a "new normal" for the property and casualty industry.

Louis Levinson, president of the E&S operations of Argo Group, said he believes industry loss reserve releases are done, adding that low interest rates mean "there is no money to be made there, and [that] insurers' combined ratios have to be creeping well beyond 100.

"There's no where else to go but to start driving rate," Mr. Levinson said.

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