According to Lloyd’s newly released annual underwriter survey, managing the “boom and bust” insurance cycle remains the most important challenge facing the global industry for the second year running. The survey also found that nearly 90 percent of the underwriters believe that windstorms are likely to be the biggest cause of losses to the industry in 2006.
Other highlights included: The U.S. and China are seen to offer the most significant growth opportunities for the market in 2006. The greatest impact of last year’s hurricane season will be decreased reinsurance availability, followed by higher catastrophe rates. Contract certainty and increased transparency are seen as the next most important challenges. While a quarter of underwriters said the industry has made significant progress on managing the cycle during 2005, 69 percent said there has not been enough progress.
Topics Excess Surplus
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