September rates flat

Rates stayed steady in September as storms continued to threaten several coasts. The biggest news for the insurance markets was the demise of AIG and the possible impact it will have on property capacity. Several property markets are releasing lower earnings and there are many rumors about investment portfolios being impacted by sub-prime. It is hard to find an argument to refute the assertion that there will be less capacity in the market during 2009. The question remains: just how much will demand fall as a result of the economic downturn?