The Week in a Minute, Dec. 13, 2012

  • The view from the top: “Economic imbalances and social inequality risk reversing the gains of globalization, warns the World Economic Forum in its report Global Risks 2012.” There’s also a brief video of WEF hand-wringing, complete with nifty graphics and a two-chord soundtrack, but I can’t figure out how to embed it.
  • The p/c industry is past the worst of the financial crisis, and a hard market is in its early stages, according to a I.I.I. survey of insurance executives.
  • But A.M. Best says the hard market is a couple years away.
  • GuyCarp on renewal season: “There were wide-ranging rate movements at national, regional and even local levels, depending on loss experience and exposure perceptions. The broader reinsurance market experienced mixed renewals. Despite the prospect of sustained low interest rates, rate movements for casualty lines continued to be subdued. Most other lines also saw moderate price changes, with increases and decreases in the low single digits.”
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