InsuranceTerm insurance Principal Declaration Hull insurance Death Benefit Excess of loss reinsurance
Hard market
A seller's market refers to a situation in the insurance industry where the demand for insurance is high, while the availability of insurance is limited. This results in insurance being expensive for buyers. This phenomenon is typically observed when there is a higher risk of claims being made, making it challenging for insurers to provide coverage. As a result, insurance companies may raise their prices or reduce the amount of coverage they offer. This can have a significant impact on both buyers and sellers in the market.
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