Is the Market Really Turning’
Richard Kerr, CEO of Dallas-based MarketScout recently addressed a question many people have asked, “Is the Market Really Turning?” Below are his thoughts.
Is the market really turning?
No one knows for sure, but it is clear property rates are stabilizing. And, we are seeing the return of true account underwriting. Class underwriting is out. Underwriters are now required to exhibit “old line” underwriting skills. The old guys will step up and be recognized while some of the young Turks will suffer from a lack of technical underwriting experience. In the end, this shake up will be good for the industry.
Sounds like a return to 1995 doesn’t it?
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
- Fla. Regulators’ Effort to Remove Insurer Execs May Not Pass Constitutional Muster
- Chubb CEO Greenberg: Some Financial Lines Underwriting Practices ‘Simply Dumb’
- Hartford Q1 Income Up 41% on Commercial Lines as Auto Results Improve