1. Insurance Terms & Definitions/
  2. Insurance Terms Starting With H

Hard Market

What is a Hard Market?

Like most markets, the insurance market is cyclical, and a hard market is the upswing of this cycle. Insurance premiums often increase, capacity decreases, and coverage terms are restricted. Insurers become more selective about the risks they are willing to insure. Hard markets occur due to high frequency or severity of claims, reduced investments, or catastrophic events affecting the insurance market.

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