The round table discussion hosted by Business Insurance recently at the RIMS conference in San Diego reflects the current uncertainty around the soft insurance market and if and when that may change.
One of the speakers indicated that “the insurance market had the feeling of the start of a hard market” but added that “this is not what is going on”. Some experts believe there is so much anxious capital in the market now, that not even a major catastrophic event would change the willingness to invest in the insurance market. There is a promise of profit on investments and a reasonable degree of safety for the investment.
It looks like the insurance premium cycle is now looping in the soft market phase and the next premium rate increase is not even to be seen on the horizon.