E&S/Specialty

Broker and carrier representatives have slightly different views of conditions in the overall employment practices liability market, but all agree that unchanged prices and enhanced service offerings are possible for individual accounts.

Not all the news is bleak on the employment practices liability front for employers and insurers, but in a down economy, there are more dim forecasts than bright spots ahead, experts say.

While some are expecting a hard market around the corner, the current employment practices liability insurance market is moderately soft.

A hard market may not be arriving anytime soon, but several insurance executives at last week's S&P conference suggested that the industry is in good shape, even in the midst of a struggling economy, while others warned against complacency.

Validus Holdings' hostile takeover bid for IPC Holdings does not appear to have much support from IPC stockholders, a Bermuda judge said last week.

The introduction of a trio of bills before Congress departed for Memorial Day recess, in addition to recent comments by the Obama administration, has set the stage for a contentious debate over the future of insurance regulation.

Premiums are not likely to begin rising until early 2010, but federal insurance regulatory reforms before then could mean abrupt price spikes rather than gradual shifts, one leading industry economist has warned.

Fifty-four percent of wholesale brokers and excess and surplus lines carriers are seeing increases in submission activity, a survey by a surplus lines group has found.