Producers looking for a light at the end of the tunnel in this soft, increasingly competitive commercial insurance pricing cycle see no sign of a turnaround this year–or even into early 2009 at this point, those agents and brokers queried by National Underwriter for their assessment of the state of the market agree.
“My sense is that this is early in the soft market, and we have not seen it fully develop,” according to Don Bowles, president of Dallas-based McQueary Henry Bowles Troy, an insurance brokerage firm that received an “Honorable Mention” in NU's 2006 “Commercial Insurance Agency Of the Year” award program. “I still see a tremendous amount of capacity, strong balance sheets and adequate reserving.”
H. Wade Reece, chairman and chief executive officer of BB&T Insurance Services in Raleigh, N.C., said he believes there will be some moderation in rate decreases, “but short of a catastrophe, [the current market] will be with us for quite some time. I'm not calling this a soft market–it's just the market.”
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
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
