Remain diligent and focused on the insurance market and theeconomy as you maneuver the remainder of 2009 and into 2010. Pause,take a step back and listen to what the market is telling you. Ifyou're not paying attention today, you may deeply regret it in thefuture. The status quo is not an option.
The agency-brokerage business remains stable. Well-managed firmswith adequate capital can weather almost any storm. The key word is“almost,” as the perfect storm environment of an insurance marketthat remains relatively soft combined with major economicuncertainty could be problematic.
Some pundits believe the soft market is ending, and they may beright. But that doesn't mean a hard market is imminent. Rather, themarket may have bottomed out and it might linger for some time.Absent a major insured disaster or a series of calamitous events,loss trends resulting from the reckless soft market may need todeteriorate further before we see any measurable rateacceleration.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 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.
