Stefano Nicolini, SVP Retro, features in Reactions:
Prices for industry loss warranties have increased an average of 20%, broker BMS tells Reactions. Price decreases in the industry-loss warranty (ILW) market have been halted by the Japanese earthquake and tsunami.
Stefano Nicolini, senior vice-president and ILW specialist at BMS, reports that the broker has been busy so far this year, placing 14 ILW contracts. He says these were mainly focused on US regional perils.