Risk managers tickled by falling prices; some concerned about 'Spitzer Factor,' as well as fate of TRIA renewal in Congress.(SO FAR, SO GOOD)

National Underwriter Property & Casualty-Risk & Benefits Management, May, 2005 by McDonald, Caroline

CORPORATE INSURANCE BUYERS FOR BIG companies, are thrilled with renewal rates they say are flat-to-soft for most commercial lines, but some are apprehensive about the impact of widening regulatory probes on their carriers and brokers, as well as the fate of the Terrorism Risk and Insurance Act.

These were some of the conclusions drawn from follow-up interviews with risk managers queried for the National Underwriter Spring 2005 "State Of The Market Survey," sponsored by Zurich in North America. "The market has been good for us, but the other side of the coin is that underwriters don't have much risk with us," said Wendell Farrell, risk manager for Armstrong World Industries Inc. in Lancaster, Pa., which makes ceiling and floor products. In 2004,...

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