NEW YORK--Insurance provided by standard carriers will not be undermined by the use of capital market mechanisms to insure risks, the head of a brokerage firm told an industry meeting yesterday.
Addressing the Association of Professional Insurance Woman here, Gregory C. Case, president and chief executive officer of the Chicago-based Aon, said that demand for insurance is "going through the roof" and the major challenge the industry faces today is how to fulfill that demand.
At the same time, "Capital market solutions [such as catastrophe bonds] in addition to basic market solutions are a reality, they are here to stay," he said.
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