Marc Lauricella, broker at TigerRisk Partners, specialises in the Florida market. He tells Trading Risk how Florida cedants are forcing carriers to become more bespoke.
TigerRisk’s chief executive Rod Fox has seen a fair number of interesting times in the insurance and reinsurance industry, yet despite his long and distinguished career he finds the present an amazing time to be in the market.
Highly competitive conditions, brought about by the entry of a variety of capital market players into the reinsurance industry, has meant that many reinsurers have been left searching for an advantage in order to differentiate themselves from other companies.
This, Fox says, is creating a highly innovative atmosphere in the reinsurance marketplace. This new spirit of innovation is perhaps the most important theme in the market at the moment, changing an industry which can often be seen as too conservative.