Letter.(Letter to the Editor)

National Underwriter Property & Casualty-Risk & Benefits Management, July, 2003

Cycle Turn Looming...Not! To THE EDITOR: Having recently addressed a group of relative newcomers to the excess and surplus lines business on the subject of market conditions, I was very intrigued by the analysis in your June 2 edition by Frank J. Coyne, chairman, president and, chief executive officer of the Insurance Services Office Inc.

in Jersey City, N.J. (See "Seven Lessons from History," page 19.) Your magazine's cover catchphrase, "Cycle Turn Looming," drew me to the article. Rather than hinting at the inevitability of a market turn (as your tease suggests), I believe Mr. Coyne makes an extraordinary case of why, if anything, the market should only continue to harden. Suggesting that it would take improvement in the industry's combined ratio...

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