hard market
Word Rarity
Common
Frequency: Zipf frequency 5.09 in modern English
20
Scrabble Score
10
Letters
3
Syllables
8
Unique Chars
Meaning
noun
An economic environment in which insurers raise their prices.
Example Sentences
- "Property-liability insurance markets have been characterized historically by “soft” markets, in which prices are stable or falling and coverage is readily available, followed by “hard” markets, in which prices rise rapidly and availability declines."
- "A possible explanation for this difference is that under the variations-from-bureau rates-without-prior-approval regime, the regulatory agency continues to hold rates down during a hard market but allows the insurer to increase rates relative to pure administered pricing during the soft phase of the cycle."
- "Insurers are reluctant to pay out retained earnings during soft markets because of the difficulty of raising capital again when the market enters the next hard market phase, leading to excess capcaity and downward pressure on prices."