Time to restart the insurance clock.
The current soft market that brokers and insurers are experiencing needs a kick start to propel it into more lucrative times. Stephen Hartigan of Groupama believes he has clocked the ticking of change.
Last month, a broker asked me for some information on the insurancecycle. He wanted to run some training courses for staff who had never
experienced a hard market.
I sent him a copy of the "insurance clock", which shows the hard market
and its characteristics between 11 o'clock and one o'clock, the soft
market between five o'clock and seven o'clock and all the intervening
stages.
Why - for most classes of commercial insurance, anyway - has the clock
stopped at half past six? Apart from commercial
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