Factors Impacting the Excess Market and the Role of Creativity

Several factors contribute to the challenges in the excess market, such as liberal tort liability environments, slow claim service, inflation of medical costs, and general inflation. As a result, excess rates have significantly increased, causing emotional and tough renewal meetings for insurance producers. The insurance industry has become more creative to cope with these challenges, as businesses look for ways to control their costs and maximize profits. One solution is participating in the risk and sharing in underwriting profit. While the industry is facing generational changes, companies like Elite Risk provide creative and tailored solutions to help businesses navigate the current excess market landscape.