While prices are clearly rising in certain lines including property and workers’ compensation, other conditions of a traditional hard market are not in place, according to property/casualty brokerage and insurer executives.
“There are multiple markets out there,” Eric Anderson, CEO, Aon Risk Solutions, Americas, told an audience at the Risk and Insurance Management Society (RIMS) meeting last week in Philadelphia.
A market is defined by more than just pricing, according to the Aon executive. The dynamics include terms and conditions, adequacy of limits, individual carrier appetites, geography and other factors in addition to pricing. Read more...
(Ref: Insurance Journal, April 23, 2012)
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