“So rates in the property market are coming down and everyone wants to know why” begins the latest video commentary from David Finnis, National Property Practice Leader for Willis North America.
Dave offers four key factors influencing the North American property marketplace.
- First, there is new capacity in the marketplace coming from carriers, brokers and suppliers of alternative capital.
- Second, reinsurance rates are coming down for insurance companies, easing their expense burdens.
- Third, property losses have been relatively light in 2013 and right now it looks like hurricane season is getting ready to tiptoe out as quietly as it tiptoed in.
- And fourth, the new CAT model from RMS, the risk modeling leader, is lowering loss estimates, especially for named storm events. Dave goes on to point out some of the complexities that come with what is otherwise great news for buyers.
Watch the video for more details.