Business Insurance Interviews Aspen's U.S. Head of Primary Casualty, Sean McPhillips

Aspen U.S. Head of Primary Casualty, Sean McPhillips, recently provided his thoughts to Business Insurance on the E&S market. According to the article, policyholders are facing accelerating rate hikes in excess and surplus lines, a trend that is expected to continue for at least the next year as the market seeks to recover from an extended period of soft rates, experts say.

In an interview with Judy Greenwald of Business Insurance, Sean said while the market is hardening, “there’s some disarray in the marketplace because people are pulling out of pockets and segments “I don’t think it’s going to be hard like we saw in the mid-’80s or early 2000s, when the market turned with a boom,” said Mr. McPhillips. “Now it’s turning with a kinder and gentler approach, and hopefully it’ll be a more sustainable market,” he said.

Read the full article here.