Japan and the US Insurance Marketplace
>> Thursday, March 17, 2011
I was asked today if I thought the disaster in Japan would have an impact on the US business insurance marketplace.
Not even a noticeable ripple.
A US disaster costing several billion dollars would have an impact.
A more likely cause of a change from buyer's market to seller's market would be a dramatic increase in the demand for insurance coverage or a drop in the capacity of insurers.
Supply and demand - simple economics. Right now there is lower demand (due to the economic decline) while capacity (supply) is at unprecedented levels.
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Scott lives in Maine and runs a successful consulting firm. He has worked with over 1,500 businesses in his 30 year career.
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