The Excess & Surplus lines market has been growing rapidly, with premium jumping 24.1% in 2022, according to the 2022 Annual Report of the U.S. Surplus Lines Stamping Offices. As increasing competition drives rates down, while social and economic inflation are driving loss costs higher, is there a danger that underpriced business being written today will result in big losses in a few years as casualty claims come home to roost? Join Insider Engage, in partnership with KBRA, for a free webinar, 10:30 ET/3:30 BT, on Aug. 29 as we explore E&S market dynamics.
Discussion questions include:
--Overview of the E&S market today: What is driving the growth?
--While the property market remains hard, some classes of casualty and excess casualty are softening. What is driving those trends?
--The explosion of the MGA/MGU space: what does that mean for the industry?
--A few decades ago, some carriers got into trouble from “giving away the pen” to MGAs/MGUs. Could this happen again today?
--Could rising interest rates result in companies pursuing cash-flow underwriting again?
--What are the regulatory implications of more business moving to the E&S market?
--What are the rating implications from carriers relying more on MGAs/MGUs?
Peter Giacone, Managing Director and Global Head of the Insurance Ratings team, KBRA
Hank Watkins, Regional Director & President, Americas, Lloyd’s
Pete Chandler, CEO, BMS Re
Matt Freeman, President & CEO, State National
Moderator: Meg Green, Managing Editor, Insider Engage