An overview of The Dynamics of the Insurance Market Cycle

Wednesday, 21 April 2021
10:00 am – 11:00 am
    • Diane Jenkins BA (Hons), ACII, Chartered Insurance Broker, Associate for Nick Thomas & Associates.

Overview

This webinar will provide discussion and advice on the the Dynamics of the Insurance Market Cycle - including causes of a hardening market, its effects on Brokers & Insurers and measures that can be taken to reduce its impact.

Objectives

  • Build an understanding of the dynamics of the insurance market cycle and what drives the hard and soft phases of the cycle
  • An understanding of the specific causes of the current hardening market
  • An understanding of the characteristics of a hard market and its effect on brokers, insureds, and insurers
  • An ability to frame the above in the context of our clients’ businesses and/or personal circumstances.

Content and Learning

  • Overview insurance market cycle – and what drives the cycle
  • Reference last hard market (early 2000’s) and extended soft market. Many professionals lack hard market experience
  • Typical causes of a hard market
  • Events leading up to current hard market and exacerbating factors – Solvency II reducing capacity, Ogden rate change, major losses, stock market, Covid-19, reinsurance market
  • The characteristics of a hard market and how these impact broker, and insurer
  • Understanding the client position – effect of challenging post-COVID-19 economic environment, budgeting process.

Speaker Bio

Diane is now a highly respected trainer to the insurance market.

Diane’s strength is in practical application of knowledge with specific specialisms including Business Interruption, Cyber and Property Owners.

She is the Education Secretary and former chairperson of the London Business Interruption Association. She was part of the IIL Advance Study Group - Business Interruption Policy Wordings and has collaborated with the authors of several Business Interruption textbooks.

Diane is a member of the Cyber Insurance Association, and she carries out the insurance cyber policy reviews for Cyber|Decider (https://www.cyberdecider.com/)

Diane’s work includes delivery as an Associate for Nick Thomas & Associates.

CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

1 hour's CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.

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