A midwestern agent told us that while cyberspace marketing may increase, regulators can still control the issuing company or general agent at the state level. He points out the need to guard against federal controls and intervention, permitting federal control only insofar as requiring proof of state approval for those states accessed. The major problem in regulation will be with unauthorized carriers. Another broker believes that the licensing and regulatory community is facing a tough time in keeping up with the technological advances to monitor activities that are done online. Lloyd's appears to be recovering from its hard times.
Capacity is up and the corporate capital is replacing individual members.
Many agents are convinced that the mutual trust and respect inherent in our industry between agents and companies no longer exists in English markets. Domestic companies have filled the gap and have shown themselves to be more reliable and responsible. It will take some years for Lloyd's to regain its former prestige, according to one broker. Other brokers believe that although Lloyd's current capacity may not be as great as before, even with corporate investors, Lloyd's will deliver more capacity to further lead to market softening. Underwriters at Lloyd's will be very creative and will add new products to the marketplace over time.