Talk of a hard market is premature, even after $134 billion in insured catastrophe losses over the past 16 months. Welcome instead to the transitioning market where even property insurers might not be able to profit.
New Model Leaves Insurers Black and Blue
Risk managers skilled at using risk management information systems are going to be able to ditch the mantel of safety expert/insurance buyer and transform themselves into a strategic member of the management team.
It's not over yet. Nearly five years after the housing crisis first began making headlines, financial institutions are facing the threat of another wave of litigation tied to the collapse of the residential real estate market. This time the threat stems from allegations of abusive foreclosure practices by the banks and mortgage servicers.