What does Hard Market mean? Read on to discover the definition & meaning of the term Hard Market - to help you better understand the language used in insurance policies.
In the insurance industry, the upswing in a market cycle, when premiums increase and capacity for most types of insurance decreases. Can be caused by a number of factors, including falling investment returns for insurers, increases in frequency or severity of losses, and regulatory intervention deemed to be against the interests of insurers.
We hope the you have a better understanding of the meaning of Hard Market.