Aviation, energy among hardest lines in London; Following Sept. 11 terrorist attacks, almost all lines seeing rate increases in market.

Business Insurance, January, 2002 by Aldred, Carolyn

LONDON-For London in 2002, it's back to the basics of underwriting, brokering and risk management. Reduced capacity and increased rates, retentions and exclusions have replaced holiday festivities in London, resulting in a frenzied, uncertain and late renewal season. ``Rates were obviously on the way up before Sept.

11 but have increased dramatically since then,'' said Callum Stewart, managing director of nonmarine reinsurance business at the Heath Lambert Group. ``Sept. 11 caused losses across many lines, so people are having to re-underwrite. Some rates are up by 100% or more.'' ``Prices are going up in almost every single area of business, even the most obscure areas'' in both primary insurance and reinsurance, said Richard Bucknall, chief operating...

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