Blog: Why Excess of Loss is key in the current casualty market?
This article was paid for by a contributing third party.
Pat Wood, of Manchester Underwriting Management, digs into the importance of Excess of Loss cover amid a capacity crunch.
The casualty market has certainly felt the effects of the capacity crunch, with revised legislation having an impact on the market, making insurers’ and brokers’ lives more challenging than for a long, long time.
The Ogden rate revision has been a large contributing factor to this, with the recent unexpected news that the revised rate is being adjusted to -0.25%. The negative rate means some insurers will be under-reserved on outstanding claims. The knock on effect for brokers is insurers
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on People
Trudgill: One year as Biba CEO
Graeme Trudgill, CEO of the British Insurance Brokers’ Association, looks to tackle challenges facing brokers as he celebrates a year in the role.
Beazley names Sam Franks as country manager of UK & Ireland
Sam Franks has been appointed to the newly created role of country manager of UK & Ireland at Beazley, effective immediately.
Bspoke ramps up in HNW with multiple ex-H&L appointments
The Bspoke Group has appointed Adrian Ewington as managing director of Bspoke Private Clients, its mid and high net worth specialist managing general agent.
Insurance broker enters Love Island villa
Trey Norman, commercial insurance broker at One Call, entered the Love Island villa this week.
People Moves: 24 – 28 June 2024
Keep up to date with personnel moves within the insurance industry.
Optio takes Soni from Axa as CEO
Specialty managing general agent Optio Group has swooped for Axa UK commercial director Deepak Soni as its new CEO.
Sompo adds Axa XL broker boss Allan Murley with regional remit
Sompo has recruited Allan Murley as head of UK insurance distribution from Axa XL to join in the fourth quarter of the year.
Tyler appointed Academy CEO as Normand exits
Academy Insurance Services has named Martin Tyler CEO as Gilles Normand steps down to move into a non-executive career.