I.I.I. Earlybird Survey

It’s that time of year again. The Insurance Information Institute’s Earlybird Forecast 2008 is out, revealing the prospects for the industry in the year ahead according to a panel of Wall Street stock analysts and industry professionals. I.I.I. president Dr Robert Hartwig notes that this year’s results – with the apparent paradox of strong profits but stagnant premium growth – are a reminder of the highly cyclical nature of the property/casualty business. Looking ahead, Dr Hartwig also points to looming challenges for the industry in 2008. Catastrophic loss and the potential loss of pricing and underwriting discipline are among the chief concerns. Resurgence in bad faith litigation in auto, home and medical malpractice claims and state referenda that potentially raise damage awards are other causes of concern. Regulatory and legislative risks also loom large in 2008.  

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