Insurance Predictions

Dr. Robert P. Hartwig, CPCU, President of the Insurance Information Institute (I.I.I.), provided some insights into the economy and the insurance industry at the recent NAPSLO annual meeting. See his slides here, and a National Underwriter summary here. Some interesting observations: We are facing a recession and a soft market at the same time, which is not typical and has dramatically reduced demand. The economic challenges have changed insurance customer behavior including increased efforts to reduce insurance costs, like shopping,...