AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
(From Reinsurance)
Byline: Robert CB Miller.
The international insurance industry is cyclical in a way that is different from other industries. Although the amplitude of the cycle is much the same, it has a predictable character which prices in other industries lack. Uniquely, it lacks an effective forward market which could make volatile prices easier to manage. It is interesting to contrast the international insurance market with benchmark oil prices. Figure 1 compares annual average oil prices with the Wellington Group's indices of its renewals since 1999 and illustrates how the amplitude of the cycles is very similar.
The chief difference ...