E&S Pros Look for Sign of Market Turn: The Exit of Standard Carriers

“More talk of a hard market coming, but there is debate as to when it will really hit.  Our insurance agency group will continue to monitor the trends for our insurance agents.”

–Josh Nordin

October 13, 2011 | Subscribe Now By Phil Gusman, PropertyCasualty360.com NU Online News Service, Oct. 13, 1:10 p.m. EDT

SAN DIEGO—While property and casualty pricing seems to be flattening and even improving in some lines, excess and surplus-lines professionals say they are hesitant to declare a market turn due in part to the ongoing heavy presence of standard-lines carriers in traditional E&S business. In an interview

here at the National Association of Professional Surplus Lines Offices annual conference, Judy Patterson, a property underwriter at specialty-insurer Beazley says that for the market to turn business needs to come back to E&S carriers, and standard insurers have to start pulling back.