Terms and conditions widen as reinsurers throw in cover

Terms and conditions continued to loosen at the 1 January
renewals, as reinsurers packaged unmodelled lines of business into
cat programmes to mask softening.
Speaking to The Insurance Insider, Willis international chairman
James Vickers said that reinsurers were now throwing classes such
as personal accident and terrorism into cat covers, as if the
unmodelled risks were not taken into account the business still
looked technically profitable.


"In a situation where margins on some programm