The Harsh Insurance Market - understanding and facing up to the challenges

Monday, 21 October, 2019

Airmic members are reporting common challenges associated with current insurance market conditions.

These conditions range from radical and often seemingly unjustified increases in pricing, reductions in the scope of cover, limits in the availability of cover for the limits of indemnity required, increased deductibles and in some cases complete withdrawal by insurers from specific industry sectors.

Casualty and professional risks covers appear to especially hard hit.

The lateness of a number of insurers providing renewal terms and in some cases, then changing the initial terms at even shorter notice, is creating immense issues for the buyer.

Is there a justifiable need for the insurance market to seemingly recalibrate, is there an element of over-reaction and some opportunism going on - and where is the broker - are they fighting for their customer’s corner and if so, how?

Brexit can’t be blamed for everything!

Moderated by Adrian Ladbury of Commercial Risk, the panel will look at the challenges through the lens of the insurer, broker and buyer.

The panel will address the implication for renewal negotiations and what Airmic members can do to prepare themselves for what is likely to be one of their most difficult meetings with the CFO.

Video: 
Grouping title: 
The Harsh Insurance Market