In the insurance industry, the term "hard market" describes the upswing in a market cycle, when premiums increase and capacity for most types of insurance decreases.
A hard market can be caused by a number of factors, including
- falling investment returns for insurers,
- increases in frequency or severity of losses,
- and regulatory intervention deemed to be against the interests of insurers.
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For over 40 years, International Risk Management Institute, Inc. (IRMI), has been a premier provider of practical and unbiased risk management and insurance information to corporations, law firms, government, and the insurance industry. This information is developed by the most experienced research and editorial team in insurance reference publishing in partnership with a host of industry practitioners who work with us. We take great pride in giving you up-to-date, objective, and practical strategies, tactics, and solutions to help you succeed and prosper in a changing insurance and risk management environment.