Blog: Broking risks in a hard and complex market
Marcus Campbell and Graham Briggs of DAC Beachcroft explain how brokers can weather the storm of a hardening market.
A significant contraction in capacity in certain commercial lines, together with hardening rates, may be stirring up a toxic cocktail of risks for commercial insurance brokers.
Following record global insurance losses, Lloyd’s insurers have been under regulatory scrutiny, causing a number of long-standing players to pull out of particular lines, such as hull and cargo, with some syndicates closing completely.
Many insurance brokers are unprepared for the challenges of broking in such a
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