While willing to retain as much as $2 million, due to the recent soft insurance market
, the company has chosen a retention level of $100,000 per occurrence for workers' comp and general liability.
Despite a soft insurance market
, WAIC has managed to grow its Direct Written Premium for each of the last seven years while maintaining an underwriting profit in each of those years.
But won't the reality of a soft insurance market
with low premiums force you to take a similar call on your offered rates?
COMPANIES HAVE ENJOYED a soft insurance market
for years, but that's coming to an end.
Additionally, to the extent that a preset rate is honored, in the current soft insurance market
you may simply be locking in a punitive rate that was negotiated six months ago.
The 2010 Agency Universe Study reflected the combined effect of the recession which began just as the 2008 study was underway, a prolonged soft insurance market
, and declining revenues," says Robert Rusbuldt, IIABA president and CEO.
On one hand, the bad economy and soft insurance market
have negatively affected agency valuations, resulting in a sluggish market.
Berkley, along with other insurers, has seen its premiums hit by the soft insurance market
5, citing a soft insurance market
and ongoing litigation expenses among its reasons.
Even with the economy in a tailspin and a soft insurance market
, there is one area where agents and brokers can find premium and income growth in 2009.
Although the ramp-up in IT spending for the year 2000 was well underway in the midst of a soft insurance market
, the burgeoning equity markets mitigated the potential for negative impact.
What's different about this one is that it follows a long soft insurance market