Tom Johansmeyer of PCS, Verisk Insurance Solutions, considers five lessons the market will need to learn this summer.
Two years of catastrophe activity around the world and the expansion of new lines of business have made the North (ILW) market an interesting, dynamic, and growing space. This has also shown up some of the challenges that have emerged as ILWs have been tested heavily and in a variety of ways.
The good news is that such activity results in plenty of opportunities to improve the ILW structure and the market as a whole. Soft markets help us learn the limits of creative structuring; hard markets help us learn the implications of it. Let’s take a look at five important lessons to focus on this summer:
Florida is an emerging market—of sorts
PCS, Verisk Insurance Solutions, Tom Johansmeyer, Industry loss warranty, ILS, Florida, Catastrophe, Specialty Insurance, Cyber, North America, Global