Back on Jan. 1, I peered into my crystal ball for the likely Top-10 Property-Casualty Insurance Stories of 2007. Before you check out my actual Top-10 (see this week's cover story), let's see how my predictions panned out.

1 TRIA Renewed! I thought this was a no-brainer, but once again renewal of the federal terrorism reinsurance program went down to the wire. Still, the industry and risk managers have to be happy that in the end, the Terrorism Risk Insurance Act was renewed for seven years, and not the three-year extension I predicted.

2 Look Out Below On Prices! I nailed this one! I expected an accelerating soft market in most lines, but said the bottom would not drop out yet. Bingo! Give credit to underwriters for keeping the market rational. I warned, however, that "all bets are off" for 2008 if carriers enjoyed another cat-free year--which they did.

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
NOT FOR REPRINT

© 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.