News analysis: Insurer run-offs could leave brokers searching for capacity
As providers continue to pull out of unprofitable lines of business, a generation of brokers who have never known a hard market could struggle in a capacity crunch, industry experts have warned.
The recent spate of insurers and managing general agents pulling out of underperforming lines of business at increasing speed was triggered by actions taken by Lloyd’s of London in 2018, according to experts in the market.
However, brokers stated that they are not particularly worried by the constant stream of providers going into run-off.
Insurance specialists further agreed that while some areas of the market are seeing hardening as a result, many others remain soft with aggressively
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