There are differing views on how long and deep this pending soft market
cycle may last," said Kerr.
The Situation: Because market prices can swing as much as 50% in hard or soft markets
, it's an ideal time for companies to re-evaluate their total cost of risk.
With the soft market
, however, with declining or flat brokerage revenues, multiples have declined from three years ago.
This type of analysis can be especially effective in a soft market
because insurers are more willing to make changes to plug potential gaps in coverage when they are competing for your business.
For the third time in 20 years, the insurance industry is in a soft market
To assist us in the decision making process, we are undertaking a Soft Market
Test to help inform how the future procurement strategy for the delivery of repairs and maintenance of our built assets will be developed.
We are on a cusp of a soft market
," says Richard Kerr, CEO of MarketScout.
At some large captives, it's true that tons of cash and claims still come through their doors, even in this soft market
As we continue to contemplate when the market will turn, we must consider outside distribution changes that could further prolong the soft market
," MarketScout said in a statement accompanying the report.
Risk managers would be wise to transform the soft market
savings of today into an advantage for the future.
The presentation is designed to provide TMPAA members with information to help maintain profitability in their program operations during the current soft market
A traditional soft market
is coming as alternative capital-driven pricing pressure in the reinsurance market flows to the primary market, a recent Nomura report contends.