Getting to a Hard Market remains Hard

Well most industry experts are saying the hard market remains elusive in the p@c marketplace. The 4 conditions of high losses, lower capacity, tight reinsurance, and underwriting dicipline, is just not there. Yes rates are moving up slightly, but it looks like the industry will most likely slip back into hyper competitive mode very soon. This summer's hurricane season could however be a game changer. If there is a few cats due to hurricanes then the hard market may actually arrive looking like hard markets of old. If however the season is benign then the hardening that is going on now may fade away as fast as a puddle in the hot sun. Stay tuned folks. Until next time be careful out there and know your risks. K

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