A.M. BestTV at RIMS: As Insurers’ Range of Competitors Widens, Leaders Say Scaling Up Matters
Panel participants said the property/casualty industry is evolving more rapidly than ever before.
“It is a pro-competitive market. M&As are bringing capacity to the market, which has enabled it to continue to expand and develop business,” said Baugh. “The period where there were lots of releases of prior-year reserves is probably over for a while. That means there is stress on the industry.”
“Cyber is not new, but it seems to be ever-emerging. The industry needs to find a way to build a tower of capacity, which specifically addresses cyber and all the perils that come with it, whether it is property, liability and/or peoples’ data,” said Hendrick.
Looking forward,
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