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Rather than taking advantage of a potential market shift following Harvey and Irma, it’s more important that we think about the transformational steps we can take to expand the ILS market, says Tom Johansmeyer of Verisk Insurance Solutions.
There’s always plenty to discuss at the annual Rendez-Vous de Septembre. The market spends at least part of the summer figuring out big ideas, talking points, and scripts for the spontaneous remarks we’re all expected to have.
Of course, this year, it didn’t quite work out that way. The best plans of Augustmattered much less than anticipated. Hurricanes Harvey and Irma made landfall and are expected to cause significant industry losses. The storms dominated the share of mind and voice, as one would expect, bringing a new sense of urgency to an event that had settled comfortably into what can only be described as an annual gripe about a protracted soft market.
That time the plans didn’t matter
Verisk, Insurance, Solutions, Johansmeyer, ILS, market, risk, global, cyber, property-catastrophe