Hard-Market Forecast? Not So Fast

One reason observers may be a little hesitant about conclusively calling a hardening market today is due to incorrect predictions of a market turn in 2008, when the financial crisis hit.

“Some industry spokesmen jumped the gun toward the end of 2008 and declared that the soft-market conditions had come to an end. What actually happened, though, was the opposite,” insurance-broker Willis noted in a Dec. 8 report that focused primarily on the energy-insurance sector.

Willis said new capital entered the market in ’08 and the financial crisis reduced buyer demand, prolonging the soft market. Now, the Eurozone crisis and the still-challenged U.S. economy present similar challenges to market-hardening.

Top Story

The 10 safest states for drivers

Not all roads are created equal. Do you live in one of the safest states in the country for drivers?

Top Story

10 websites (besides Google) that insurance investigators can use to research claims

Here are 10 sites that can provide a treasure-trove of information at your fingertips.

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone
         
Close

Advertisement. Closing in 15 seconds.