Hard market phase on Insurance Industry - World Insurance industry predicted not been phase hard market next year.
This phase characterized by rising premium reinsurance high and capacity face amount of the small one.
However, likely remain surge premium reinsurance the world.
Especially at right property insurance.
Hard market phased is formed cause by industry (re) insurance in the world exposed to very large claims. Lose profit recovery by raising the required premium. On the other hand, underwriting risk selection carried out more strictly.
List of major claims in the year 2012 is not as much in 2011. But there is one mega claims that as a result of the storm in the u.s. London last October. Results calculation of the catastrophe risk models, insurance claims resulting from Hurricane Sandy row in 10 of the world's disaster insurance claims since the 1970s.
AIR Worldwide estimates insurance losses due to Hurricane Sandy range US $ 7-10 billion. While the estimation of EQECAT and larger RMS again. Each of US $ 10-20 billion and US $ 20-25 billion.
Some insurance company have already revised the target this year. QBE in Australia, for example, has lowered profit target to eight percent from the previous 12 percent. A.M. Best has also lowered its credit rating.
Hard market phased is formed cause by industry (re) insurance in the world exposed to very large claims. Lose profit recovery by raising the required premium. On the other hand, underwriting risk selection carried out more strictly.
List of major claims in the year 2012 is not as much in 2011. But there is one mega claims that as a result of the storm in the u.s. London last October. Results calculation of the catastrophe risk models, insurance claims resulting from Hurricane Sandy row in 10 of the world's disaster insurance claims since the 1970s.
AIR Worldwide estimates insurance losses due to Hurricane Sandy range US $ 7-10 billion. While the estimation of EQECAT and larger RMS again. Each of US $ 10-20 billion and US $ 20-25 billion.
Some insurance company have already revised the target this year. QBE in Australia, for example, has lowered profit target to eight percent from the previous 12 percent. A.M. Best has also lowered its credit rating.
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