EXECUTIVE SUMMARY: Soft market should continue--for now

The big themes to emerge from this year's BIE 100 Risk Manager Survey are that the end of the soft market is nigh but there is at least one more year of cheap cover yet, commercial premiums will continue to migrate to captives, buyers believe that insurers and brokers have recently improved service levels but have plenty of room for improvement and that insurers should stop taking payment from customers and brokers for the same business. ADRIAN LADBURY reports on the key findings

The BIE 100 Survey focused on four key areas. These were:

• Broker remuneration
• Demand, supply and price of insurance coverage and use of captives
• Service levels provided by brokers and insurers
• Key business and insurance risks.

• BROKER REMUNERATION--New model required

THE BIG NEWS FROM this survey was that a strong majority are opposed to brokers taking payment from customers and insurers at the same time.

To the question "Should insurance brokers be prevented from taking payment from both customers and insurers to prevent the steering of business?" some 65% answered "Yes" and gave... For the full article click here to download the digital edition of the BIE 100 Risk Manager Survey 2008