Filed Under:Markets, Commercial Lines

As Loss Costs Rise and New Markets Emerge, Industry Must Transform to Meet Demand

Clive R. Tobin, CEO, Torus Insurance Holdings speaking in New York at APIW & New York CPCU meeting yesterday. (Photo: Sonya Szostak)
Clive R. Tobin, CEO, Torus Insurance Holdings speaking in New York at APIW & New York CPCU meeting yesterday. (Photo: Sonya Szostak)

NEW YORK—As markets grow in developing countries and losses escalate, insurers will have to reassess risks and likely consolidate to meet the rising demand for coverages and limits, an industry executive says.

In an address here yesterday before a joint meeting of the Association of Professional Insurance Women and The New York Chapter of CPCU Society, Clive R. Tobin, chief executive officer of Torus Insurance Holdings LTD, said the staggering cost of loss is challenging insurers to find more ways to raise finances and “build relationships with the capital markets.”

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