Proactive Strategies for Navigating a Hard Insurance Market

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In the insurance industry, the term "hard market" describes the upswing in a market cycle, when premiums increase and capacity for most types of insurance decreases.

A hard market can be caused by a number of factors, including

falling investment returns for insurers,
increases in frequency or severity of losses,
and regulatory intervention deemed to be against the interests of insurers.

Activate your free IRMI membership and you'll receive a checklist of 16 proactive strategies you can put into action to help mitigate the effects of a hard market. Implement these best practices at your company or share them with your clients to present your organization to insurers in the most favorable light possible. You will have the ability to anticipate and plan for possible setbacks in coverage terms, limits, deductibles, and pricing.

What Else Can IRMI Membership Do For You?

When you become an IRMI member, you join a community of leading risk management and insurance professionals with access to resources, tools, and events that will help you advance your career while making smarter decisions for your company and clients.

Your membership entitles you to the following exclusive resources.

IRMI Webinars—A members-only event, these free, one-hour sessions led by industry experts bring you excellent educational value and keep you in-the-know about hot topics and emerging trends.

White Papers and Reports—as an IRMI member you have exclusive access to our library of white papers and reports—and new reports when published—covering relevant industry topics, such as contractual risk transfer in construction, bobtail and deadhead coverage, navigating a hard insurance market, and more.

IRMI e-Newsletters—Get practical, actionable strategies and tactics for managing risk; purchasing, selling, or underwriting insurance; and identifying loss exposures and potential coverage gaps. Regardless of your specialty or industry experience, you'll find a free email newsletter—or several—from which you will gain valuable insights.

IRMI Update member e-newsletter—this bimonthly email will help you take full advantage of your IRMI membership. You'll get updates about webinars, new members-only content, exclusive perks, and more. As an IRMI Member, you're automatically subscribed.

Who Is IRMI?

For over 40 years, International Risk Management Institute, Inc. (IRMI), has been a premier provider of practical and unbiased risk management and insurance information to corporations, law firms, government, and the insurance industry. This information is developed by the most experienced research and editorial team in insurance reference publishing in partnership with a host of industry practitioners who work with us. We take great pride in giving you up-to-date, objective, and practical strategies, tactics, and solutions to help you succeed and prosper in a changing insurance and risk management environment.