Broker facilities take fire from carrier executives

Insurance CEOs have slammed the use of broker facilities with
Tokio Marine HCC boss saying delegating underwriting authority to
intermediaries is "like giving the keys to the inmates"
of an asylum.
Tokio CEO Christopher Williams said broker facilities were a
"classic sign" of the soft market, speaking today during
an S&P Global Ratings conference in New York.
But he said underwriters bare the blame for the proliferation of
facilities in recent years, even when reinsurers are involved.
"The o