Willis Publishes 2010 Analysis and Commentary on U.S. Insurance Industry
‘Marketplace Realities’ Report Available on Willis.com
NEW YORK, October 13, 2009 — Willis Group Holdings (NYSE: WSH), the global insurance broker, today published
the 2010 edition of its Marketplace Realities and Risk Management Solutions report, the company’s long-standing annual
series offering commentary and analysis on the insurance marketplace in every major line and select industry
sectors. The report is available here, free of charge, on the company’s web site, www.willis.com.
The subtitle of the two-part report is Careful Steps. Marketplace forces that have led recently to sometimes
frenzied competition among insurers may remain in place into 2010, according to Willis experts, but potential
difficulties brewing on the horizon may have a market-turning effect by late 2010 or 2011. In
introductory comments, Willis Chairman and CEO Joe Plumeri says, “While undoubtedly appreciating the windfall of softening
rates, risk managers must also consider the issues of market security and counterparty risk as never
before... We urge our clients to move deliberately, thoughtfully, to take an extra moment and consider
the broadest perspective in their view of risk. And as always, Willis will be helping our
clients take careful, smart steps forward.”
The 2010 report is being published in time to help insurance buyers make plans for the coming
year. In addition to articles on Property, Casualty, Workers’ Compensation, Employee Benefits and all Executive Risks
lines, the publication includes pieces on U.S. reinsurance, captives, the Bermuda and London markets, international programs
and on several key industry segments and specialty lines. Industry segments include Aviation, Construction, Financial Institutions,
Health Care, Life Sciences, Real Estate & Hotels, and Utilities. Insurance lines covered include Environmental, Marine,
Personal Insurance, Political Risks, Kidnap & Ransom, Surety and Trade Credits.
Highlights from the articles include:
1. Some insurance lines are hardening — While the market remains soft in most lines, political instability,
global bankruptcies and losses in aviation have brought on rate increases for Trade Credit and Aviation
coverage.
2. Filling a gap in supply chain protection — Marine and other insurance that protects supply chain
exposures usually share one major shortcoming: it usually requires a physical loss to respond. Trade Disruption
Coverage fills that gap.
3. Estimates for catastrophic losses may be coming down — New models used in Property insurance are
lowering the estimates of loss from earthquakes and hurricanes.
4. The world is catching up with the litigious U.S. — Our International experts note that the
concept of moral damages — which underpins much of the litigation in the U.S. — is
becoming a part of the thinking in Latin America.
5. Financial institutions are avoiding the broad brush — Banks are not having an easy time of
it, but those that have successfully managed their risk — and can document it — are
seeing flat renewals and even occasional reductions in premiums. The publication, which is updated periodically throughout
the year, is available on the Publications page of the Willis web site, http://www.willis.com/What_We_Think/Publications/.
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk
management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around
the world. Willis has more than 400 offices in nearly 120 countries, with a global team
of approximately 20,000 Associates serving clients in some 190 countries. Additional information on Willis may be
found at www.willis.com.
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