This is what happens when an engineer slash business consultant finds a career in commercial insurance. Here you'll find me picking apart insurance policies and forms, espousing on catastrophe analysis, and even finding ways to be more productive in the office (I'm a software and productivity junkie).
Wednesday, February 22, 2012
The Property Market Is Hardening
Please make sure you prepare your clients. Property is going to get harder to place over the next 18 months as capacity diminishes. You are going to require more markets to build the same capacity for your placements. Underwriters are going to start seeing more business and will have much less time on their hands. Make sure you have good, quality submissions that get to the point of what you are trying to do. You may only have the attention of the underwriter for a few moments before they move on to the next deal. They are going to work on the easy ones with the information and opportunity to bind. There are going to be more layers, and potentially more gaps, in your placements. Make sure you review them thoroughly and really check for gaps that might open your placements up to more savvy competitors that find them when you're not looking. Good luck out there!
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