Should New York resurrect its long-defunct Insurance Exchange? That's the question being posed by Superintendent Eric Dinallo, who is seeking input from the industry about the feasibility and desirability of the idea. I remain intrigued, though skeptical about the timing.
I'm always in favor of more competition and sources of coverage, which ultimately helps the buyer and keeps the market sharp and efficient.
But while the rationale for creating a Lloyd's-like underwriting marketplace on this side of the Atlantic is enticing–just as it was in the 1980s, when the fledgling exchange imploded–I must admit I'm extremely wary about whether enough capital can be raised to launch a significant new facility in this tight-fisted credit 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
© 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.
