Overview and Outlook for the P/C Insurance Industry: Focus on the Mining Sector

This PowerPoint report, presented by Robert Hartwig, president of the Insurance Information Institute, at the Lockton Mining Summit in St. Louis, Missouri, reviews the current state of the property/casualty (P/C) insurance market and discusses what can be expected in the future. The report notes that catastrophes and other factors are pressuring insurance markets, phenomena that are exacerbated by a new factor -- record low interest rates. Financially the P/C insurance industry is very strong, but like mining it can be a volatile and cyclical business. The presentation provides an overview of the mining industry, with a focus on factors impacting supply and demand on a global scale. Natural resources and commodities have been among the strongest sectors in recent years, a trend that is driving insurance demand. Supply in the mining sector and how it affects prices is also discussed. The presentation includes sections offering a catastrophe loss update, an international economic and trade volume analysis, and a tort system update.