Insurers warned of diminishing reinsurance capacity
Article Abstract:
Insurers attending the National Assn of Independent Insurers' annual conference were told to brace themselves for a sharp decline in reinsurance capacity and higher rates. The predicament of Lloyd's demonstrates just how bad things are. The catastrophic losses it incurred as a result of Hurricane Andrew will force Lloyd's to reduce capacity by about 1 billion pounds sterling in 1993. Reinsurers are scrapping five-year plans in favor of one-year plans in light of recent catastrophes. Surplus carriers are expected to pick up the slack.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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A coverage for all seasons; facultative's ability to adapt to changes in the reinsurance environment ensures it a permanent place in the market
Article Abstract:
The growth of the alternative risk markets, increased competition and greater insurance company retentions continue to influence the supply and demand of facultative reinsurance. Ceding companies find that facultative reinsurance continues to fill a need that primary underwriters are unable to fulfill. Amid cyclical changes in the reinsurance market place, facultative coverage will continue to meet the needs of the marketplace.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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