Commercial Insurance Buyers Benefit From Ampl...(ent is characterized by an ever growing ...)

Date:9/30/2009

ent is characterized by an ever growing landscape of new capacity for commercial organizations. An oversupply of capacity for both public and private organizations has prevented a hardening of the market in 2009 in the commercial sector. However, the environment for financial institutions has deteriorated during the past several years."

Property -- Jim Rubel of Lockton's Global Property Practice says many property insurance buyers have not seen the dramatic increases predicted, but those with CAT exposed property face difficulties. "Premium increases were not as bad as we first feared. Clients that were not exposed to catastrophes and had minimal losses generally saw only flat to moderate increases in their rates."

Casualty -- Mark Moreland of Lockton's Risk Management team notes that most casualty buyers continue to see favorable renewals, but also comments that often this is a result of competition. "Carriers have continued to employ a bifurcated pricing model for existing and new business. Many carriers have attempted to raise rates for existing business, while at the same time aggressively pricing new business."

Employee Benefits -- Ed Fensholt, JD, of Lockton Benefit Group comments on the impact of health care reform in the U.S., "The health reform train continues to careen down the tracks. Where it'll stop and what it'll look like when it enters the station--is still anyone's guess. Several common threads have emerged from the various proposals. Many would impact employers, including various versions of a 'Play or Pay' provision."

The report also provides in-depth analysis of glo
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SOURCE Lockton Market Update Copyright©2009 PR Newswire. All rights reserved

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