trying to get a return for their
investors, a competitive market
has taken root that would require
a major catastrophic loss event to
alter the current playing field.
“What I’m telling my folks
is this is the new normal,” says
Bob Greenebaum, executive vice
president, Casualty Practice Group
Leader at Swett & Crawford.
Speaking to the abundant capital in
the marketplace and what that has
meant for the ability to withstand
larger losses, Greenebaum notes
the industry hardly flinched after
2012’s Superstorm Sandy—which
SAN DIEGO, CA. WWW.NAPSLO.ORG
WELCOME continued on page 4 A
Welcome to San Diego and the 2015 NAPSLO Annual Convention.
We’re pleased to welcome a record
number of attendees this year with
an exceptional lineup of networking, social and educational events,
thanks to the great work of our
If you haven’t already picked
up your registration packet,
you may do so this morning in
the Harbor Foyer on Level 2 of
the Manchester Grand Hyatt.
Programs are scheduled through-
out the meeting, beginning with
the Opening Reception tonight
in San Diego’s Embarcadero Park.
NAPSLO’s Next Generation will
NEW NORMAL continued on page 6 A
Gil Hine Hank Haldeman
We do. Colony Specialty’s Casualty division launched a “zero deductible”
program for smaller accounts, is perfecting the art of the same-day quote
turnaround, and secured $25 million in excess capacity to better serve
Technology and Service focused on your Success.
Rapid-fire quotes and zero deductibles.
Who does that?
Adjusting to the
With a huge influx of capacity,
significant rate decreases and fierce
competition for business, emphasis on
value delivered is more critical than
ever for the Excess & Surplus market
BY PHIL GUSMAN
Anyone who has been in the insurance industry long enough has heard it before: “This
market cycle is different.” This time,
though, even veteran Excess and
Surplus Lines professionals believe
it might well be the case.
A combination of excess
capital, much of it from nontraditional sources, and, to a
lesser extent, the ability to put
data and analytics to better use
means the industry can absorb
larger losses than ever before.
With continuous new entrants
armed with so much capital
September 9, 2015