Rising prices on high-risk accounts, continuing activity by standard carriers and the development of more innovative products signal a gradual hardening trend in an E&S market that continues to be strong and vibrant.
These trends make E&S a great engine for independent agents looking to grow territory or increase specialty markets.
"From a broad perspective, I would characterize the E&S market as a transitional one, with a lot of businesses under duress," said Derek Broaddus, senior vice president for excess casualty at Allied World. "Loss-sensitive accounts are seeing upward pressure on price." On the other hand, Broaddus is still seeing soft market behavior. "For the most part, I could consider the market to be transitional and leaning toward increasing rates and restricted terms."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
