Making do with leftovers.
Even before the attacks on the US, the dearth of capacity in the insurance industry was something to keep an eye on. Is it also something that could be avoided? Is it possible that a good dose of realism and effective pricing would help save the day?
Some six months or so ago I issued an early warning that we couldexperience a shortage of capacity. This was at a time when Independent was
happily taking more than its fair share of business from brokers.
It now appears that my concerns were fully justified, assuming that recent
press reports of Aon having 'crisis talks' on this subject are true.
Naturally Dennis Mahoney, its chief executive, will be focusing more on
the requirements of their major commercial clients but be assured the
rationing
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