Hybrid insurance carriers providing both primary and secondary coverage have created a new factor in competition, according to participants at an industry conference yesterday.
Their observations were made at the Professional Insurance Wholesalers Association conference in Pearl River, N.Y.
George Daddario, executive vice president of Towers Perrin Reinsurance Co., told the group these companies, many based in Bermuda, have decided to write primary or secondary policies whenever either one can make a greater profit.
Recommended For You
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:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
