A fter 12 years, it is not a cycle. For those who can remember back when past cycles ran a course of three to five years, you could almost set your watch by that criterion.
Capacity is an all-time high.
Capital still is in plentiful supply. The stock market is not as favorable as early in the year, but the Fed has trimmed interest rates and the Asian crisis is subsiding for now. Georges will have an impact in four states, with companies which write property in Puerto Rico and the Virgin Islands experiencing the largest losses. Insurers, both foreign and domestic, are actively looking for new programs that make good business sense. New products in the weather niche are expanding to address not only event cancellation and prize guarantees but corporations' bottom-line dollars.