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.

Featured Video

Most Recent Videos

Video Library ››

Top Story

7 ways to mitigate risk for businesses before the next natural disaster

Now that the recent hurricanes and wildfires have subsided, here are seven things you can do to make sure your business is ready for the next disaster.

Top Story

20 home insurance companies ranked highest for customer satisfaction

The J.D. Power 2016 U.S. Home Insurance Study provides a comprehensive look at customer satisfaction with homeowners' insurance coverage.

More Resources


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

Advertisement. Closing in 15 seconds.