Blog: The hardening high risk liability market and how brokers can help
This article was paid for by a contributing third party.
Matt Pini, of Direct Insurance London Market considers how brokers can respond to changing conditions.
Most of today’s insurance professionals will not have traded in a hard market. We’ve not seen a true hard market since the 1980s and to some degree the early 00s. Whilst we are not currently operating in a truly hard market, there are signs of a shift in this direction. Rates for high risk liability lines have already hardened. We’re not expecting to see the 20%+ rates for demolition contractors that we saw in the early 2000’s, but it wouldn’t be surprising if rates moved nearer 10-12%. Brokers
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