A soft market
is a time when a buyer can make the most out of a purchase.
"Talents and skills are being diluted in a soft market
cycle." As an underwriter in a soft market
, "if your approach is purely to write risk, are you going to scrutinize it to the same degree as you would when there's an opportunity in a hard market when you can really expand your portfolio?" Krefta questioned.
Councillors backed the "soft market
All of this points to a continuing soft market
Nomura analysts Cliff Gallant and Mathew Rohrmann say in the report--titled "The Evolution of Reinsurance: Soft Market
to Spur M&A"--that one impact of the growing alternative-capital presence will be further price weakening in property/catastrophe reinsurance rates, followed by weakening across all reinsurance lines before finally affecting primary-commercial rates.
Because market prices have been known to swing by upward of 50% in hard or soft markets
, it's an ideal time for organizations to re-evaluate their total cost of risk.
With so many things (cats, politics, the economy, the soft market
) out of their control, it only makes sense for independent agents to invest in niche businesses they understand and enjoy.
Program administrators, along with everyone else in the insurance markets, endured seven years of a soft market
with declining prices and aggressive competition.
noted that "those companies that five years ago were knocking on my door are saying 'No' because my loss ratios are not what they should be--again due to the low prices (of the soft market
Risk managers would be wise to transform the soft market
savings of today into an advantage for the future.
Before you can take full advantage of the soft market
, you need to understand what your current policies do and do not cover.
Escalating energy costs, a rising Canadian dollar and a soft market
is being blamed for the layoffs at the 380-person company.
In August 2004, FTI's growing business enabled Hrobsky to take advantage of a soft market
and secure 93,000 s/f of contiguous space at 3 Times Square--one of the last significant second generation spaces since DoubleClick's 300,000 s/f at 450 W.
Prior to the Enron case, and during the period of a "soft market
" for D & O insurance, nearly all D & O claims were customarily met with a "reservation of rights" letter from the carrier, which was normally cursorily read by the company's risk manager and/or general counsel, then promptly filed away.