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

DAILY NE WS

SAN DIEGO, CA. WWW.NAPSLO.ORG
WELCOME continued on page 4 A

Welcome to NAPSLO 2015!

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 Convention Committee.

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

ARGO

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 high-excess clients.

Technology and Service focused on your Success.

Rapid-fire quotes and zero deductibles.

Who does that?

Adjusting to the
‘New Normal’

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.