The president and chief executive of Marsh Europe, Bill Malloy said that while the insurance market in Europe is difficult, there is adequate capacity in most lines of business.
Malloy said that in property classes, capacity problems only existed in insuring against natural catastrophes for peak zones, and in specific industry classes and specific construction classes.
"The quality of the information is the key to the broader coverage. It's not an absence of capacity, it's there. The underwriters are being very careful about how they deploy it," Malloy said.
With regards to liability, Malloy said that Marsh had estimated that €1.3b of capacity was available in the European market. He said that in Europe only one in 20 businesses had experienced a loss greater than $US5m in the last five years, compared to one in 12 in the US.
