"Emerging Trends and the Wholesale Insurance Market: How the Industry is Adapting
Demographic, societal attitudes and legal tactics are helping push verdicts to new heights.
U.S. businesses are being squeezed on a range of litigation and security fronts.
Settlement demands are rising, driven by a plaintiff's bar that is backed by deeper resources and better coordinated strategies.
Attorneys are targeting sports injuries, molestation and other issues, increasing the frequency and severity of higher-ed claims.
Specialty insurers are drawing from the sectors they insure for claims and underwriting expertise.
Wholesale brokers and underwriters are becoming more specialized, allowing them to help insurers better customize coverage.
Courts have been slow in returning to full speed. Meanwhile, defense counsel have been learning how to adapt their approach to meet today's changing social expectations.
Smaller entrants often engage reinsurance as a tool to meet capital needs, while large insurers are looking toward capital markets and acquisitions as means to gain competitive advantages.
Many wholesale brokers are working directly with insureds, utilizing their subject matter knowledge and access to insurers.
Multi-claimant cases can quickly overwhelm traditional insurance towards and other large risk arrangements.