Webinar-The dynamics of the insurance market cycle

We are in now in the midst of the first hard market for many years; many insurance professionals have never experienced a hard market before. This session provides an understanding of how the insurance market cycle works, and the specific factors that drove this hard market. It also provides an overview of the experience of clients, brokers, and insurers, because only by understanding the perspective of all stakeholders can we design optimal strategies.

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.

Learning 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

Diane Jenkins BA (Hons), ACII, Chartered Insurance Broker

Diane has huge experience working with major Brokers across a range of roles and disciplines, to include:

• Placement
• Programme design
• Training
• New business
• Client Servicing
• Mergers and Acquisitions (M&A) due diligence

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.

She 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.