By Dena Lythgoe, Senior Account Executive & Partner
When you think of a perfect storm, many thoughts may come to mind. You may be reflecting on an emotional storm you’ve encountered, a trifecta of issues and problems all coming down at once. You also could be thinking of Mark Wahlberg as the hunky deckhand glistening from the spray of the deadly wave in the 2000 American biographical disaster drama. Most likely you’re not considering the global insurance market. But that’s the difference between hunky deckhands and the current situation of being confronted with social inflation, historically low interest rates, increased occurrences of natural disasters, and class action payouts. A perfect storm is just on the horizon for the global insurance market, although in many areas it has already landed.
Click the link below to read Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market from the Insurance Journal.