Soft Market?

Based on a recent survey conducted by RIMS Survey, commercial risk buyers saw a soft market in the first quarter, although signs point to the market beginning to harden. Despite economic turmoil, most buyers found commercial insurance premiums flat or down slightly for most North American businesses. Industry experts believe the market will continue to be firm, meaning that rates would decrease at a lesser extent than they have been. In particular the lines of directors and office liability, errors and omissions and also fidelity bonds have seen some substantial hardening.

I’ve heard from some recruiters within NIRA that they are seeing projects specifically related to this projected hardening of the market.

Scot Dickerson

Money in the bank

Historically, the insurance industry hires in any market, albeit in down periods there is a slowdown in terms of quantity.

During recessionary times the bread & butter disciples of underwriting, claims, and actuarial, have a tendency to be very strong and in demand, and there has been some pretty steady growth in product management and IT.

Key positions such as producers in all disciplines are also in high demand.

As a side note... kind of interesting in that traditionally insurance stocks outperform the Dow.

Not lately – in 2008 they fell by 47% compared to the Dows 33.8%.

Money in the bank

Got a bad boss?

Business Week says... be patient, as the clock is probably ticking on him or her.

I agree.

I’ve run into situations every year or two where all of a sudden 3, 4, or 5 people want me to find them a new position because of this “bad boss”.

While it’s nice to have a number of new candidates, this is certainly the wrong reason.

I tell them to be patient - and in the meantime I’ll try to unload this person onto one of my “bad clients”.

Frequently works, and I’ve got a number of x-candidates who will always be grateful.

Money in the bank

Just read a pretty lengthy Forbes article from their investment team.

Tenor in a nutshell was that when mortgage rates drop to 4.5% and stay there, or lower, good things will happen.

It puts dollars in everyone’s pocket immediately – “a stimulus plan that actually works immediately”.

It creates a frenzy of refinancing, which gets rid of the majority of the toxic assets on lenders balance sheets – allowing them to get back into giving credit again.

Helps dry-up the large volume of foreclosures, as people will be buying again.

Sounds like a plan!

Harvey Dorland