Ben Francavilla, president, Amwins Program Underwriters, said that clients may respond to successive rate hikes by raising deductibles and assuming more risk.
Summit attendees also said they expect greater transparency to avoid controversies such as the one that engulfed Vesttoo. They spoke with AM Best TV at Target Markets' 23rd Annual Summit, held in Scottsdale, Arizona.
Ryan Armijo, chief operating officer, underwriting, Amwins, said greater interest from traditional and fronting carriers is helping drive the growth of delegated underwriting authority enterprises.
Caroline Haga, program capacity lead, Mission Underwriters, said sound underwriting is critical in the program space because underwriters earn their reputations.
Nick Greggains, CEO, Ethos Specialty Insurance Services, said market trends favor continued growth for MGUs and a continued emphasis on good risk management.
