The surety bond insurance segment has fully recovered from its slump, according to a new study by Conning Research and Consulting Inc.
Stephan Christiansen, director of research at Conning Research & Consulting, said the huge increase in losses during the 2001-2003 period were due not just to claims reported but also to claims developing badly and recoveries and other claims mitigation efforts falling off.
“Yet this turned around in 2004 and 2005, and 2006 shows continued improvement,” he said. “Capacity is returning to the market, but with a renewed appreciation for underwriting discipline.”
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