The continued soft market was a common thread that tied our monthly newsletters together this year. Nearly every issue we delivered in 2008 had an article forecasting when it would end or detailing strategies of specialty lines market participants to cope with existing conditions.
One common theme that emerged in our discussions with E&S insurance company executives was that the 2008 soft market was unlike others they had lived through.
“What is different about this soft market is the unpredictability,” said Robert Lala, senior vice president of primary casualty for Liberty International Underwriters in Chicago. “In past soft markets, you could name who was doing what, and you knew which accounts you were going to have a chance of writing with good terms.”
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