Has the lndustry Got Its Appetite Back?
A couple of years of steep rate escalation has brought a return to prosperity for at least some segments of the commercial insurance business. With it have come early signs of a return of the industry’s appetite for risk.

Hard Market?
According to reports from the Insurance Services Office (ISO), “The current hard market is already showing its age.”

Profitability
According to IRMI, 2001 was the worst year in recorded history (negative $7 billion in net income) for commercial insurance. In 2002, the industry returned to profitability with net income after taxes of $2.9 billion.

Catastrophe Losses
One brake on the trend to lower rate increases has been the radical increase in catastrophe losses. According to ISO, they surged to $10.1 billion in the first nine months of 2003.

Looking At The Lines
General Liability: IRMI suggest that the primary general liability market softened somewhat in 2003.

Survival Tactics For A Hard Market
The following seven survival tips are excerpted from an International Risk Management Institute report:...

“Sick Building Syndrome:” Contractor and
Design Professionals’ Legal Liability
During the energy crisis of the ‘70s, heightened concern about conservation of resources, particularly those that operate climate control and ventilation systems, led the U.S. Dept. of Energy to institute standards that reduced ventilation of fresh outdoor air.

Final Thoughts
Observations from each of the executives participating in this section:...