I am not afraid of storms, for I am learning how to sail my ship. Tough times never last, tough people do. (Albert Einstein).

It is beginning to look like we have now transitioned into a hard market. Insurers reducing capacity and exposure. Pressure on insurer margins, post pandemic litigation and cost of claims impacting both the top and bottom line. The pandemic accelerated the transition, and we now see a shift change in the landscape.

The impact of a hard market has a profound impact on most business but even more so on those that live hand to mouth in their infancy. As insurers look to redeem their underwriting losses, we see the appetite, selection criteria and even capacity levels reduced within all sectors and classes of business.  

It is in these times that you can see a categorical difference between those brokers that are average and those that are outstanding. Navigating and managing our clients expectation is paramount in these times, as many will have never experienced a hard market parse and the conditions it brings.

We see upward trends in all classes therefore the renewal process becomes more arduous with premium increases a certainty.  With the larger and more complex risks, it becomes about differentiation, reducing exposure techniques and having the right contacts within the right markets, a multitude of factors.

At I.C. Insurance, we have the experience and passion to mitigate issues and manage our clients through this transition , if you are prepared to answer more in depth questions about your business we will endeavour to communicate with you earlier, whilst ensuring we structure and present your business to our insurer partners accurately and fairly, ensuring your business thus your livelihood is protected.

Should you wish to discuss, feel free to call any of my team on 01204 540897 or email me on [email protected]