By all accounts, 2010 was another predictable year in the soft market cycle that has characterized the U.S. commercial property and casualty industry for the last seven years. Rates across all lines of coverage continued to slide by single digits. The industry saw a reduction in gross written premium for the fourth consecutive year, representing the longest such stretch since record-keeping began in the 1940s. Catastrophe losses around the world, while dramatic, were not severe enough to move the needle in any perceptible way. Read More.
Preferred Concepts, LLC, a leading national insurance program administrator and specialty broker, has promoted Francesca D’Angelo to Executive Vice President in charge of the company’s program business unit. Read More.
When the insurance market is either hard or soft, life for a risk manager is simpler. Transitional markets, like the one we are entering, are tricky to navigate. Developing a renewal strategy takes a lot more thought and planning than during times when pricing is more definitive. Here are five things to focus on for your upcoming renewals.