23 October 2023 Insurance
Time to address ‘issues kicked down the road’ at last renewal
“You can’t unpick 10 years-plus of soft market legacy in one renewal. Everyone is aware that 1/1 2023 was only ever going to be step one; some issues have been kicked down the road—and must be dealt with in this year’s renewal.”
This was the view of Charlie Bartlett (pictured), deputy chief underwriting officer, Europe and Canada, Reinsurance at SCOR P&C, speaking to Intelligent Insurer. This year, he expects rates to again increase driven by a higher cost of capital and continued uncertainty and volatility.
