Hard Insurance Market: Why And What to Expect

Early American poet Anne Bradstreet once wrote, “If we had no winter, the spring would not be so pleasant: if we did not sometimes taste of adversity, prosperity would not be so welcome.” This quote applies to almost every aspect of life, including insurance markets. Unfortunately, we’re experiencing a winter, or the effects of a hard insurance market. However, just like with winter, fairer weather will eventually return. Let’s look at what a hard market means, what’s happened historically, and what the next few years will look like.