Interviewed by the FT recently, industry leaders seem to agree that commercial insurance prices are likely to keep rising, with the hardening trend either set to accelerate again, or simply to be prolonged and extended, at similar rates to what we see today, while uncertainty and volatility remain heightened.
Mactavish CEO Bruce Hepburn told the FT that price increases could run for a number of years, perhaps longer than anyone active in the industry may have seen in the past.
All of which suggests we’re in uncharted territory, as far as hardening insurance and reinsurance markets go.
