More Subprime Challenges Ahead
“The next few years will be very challenging for many insurers in terms of turning the page on credit issues and in strengthening balance sheets. While executives have been keenly aware of the subprime and other credit risks, overall many members of the insurance and broader financial services industries do not seem to have clearly and fully understood their exposure.”
—Scott Marcello, partner, Insurance Industry leader at KPMG LLP, commenting on a survey of 375 insurance industry executives conducted at its 20th annual Insurance Industry Conference recently held in New York.
Industry Needs Wholesalers
“We want to demonstrate how wholesale brokers play a key role in the insurance value chain. Wholesalers meet a specific need in the marketplace by finding the best specialty lines coverage and often innovative solutions for those risks that would otherwise not be protected.”
—Letha Heaton, a co-chair of National Association of Professional Surplus Lines Offices Ltd.’s communication and technology committee, commenting on its recently launched education and awareness campaign. The campaign is designed to demonstrate the value that wholesale brokers bring to retail brokers and corporate risk managers when placing specialty insurance coverage.
Topics Market
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