Shifting from a Soft to Hard Insurance Market

Like all other industries, the Insurance Market experiences pricing cycles. This is identified and defined as a Hard Market vs Soft Market. These descriptors relate directly to the premium levels and underwriting attitudes by Insurers. The two major factors that influence these two ends of the cycle are Natural Disasters and Economic Activity. During a soft cycle, underwriters have a relaxed underwriting approach and deliver low premiums. During a hard cycle, the reverse occurs with toughened underwriting approach and higher premiums. Currently within Australia, the Insurance market is experiencing a hard market. Comparison of the Insurance Markets. Soft Market Lower insurance premiums; Disc

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