Mike Padula’s Reflection on the WSIA Annual Marketplace

Aspen News, Product News

Aspen Environmental underwriters spent a week at the WSIA conference in San Diego meeting with dozens of our trading partners, clients, and other insurers. It was a great week where we shared our experiences, trends in the business, and paths forward. We came away more energized and more optimistic about our future, largely on the strength of our relationships with our wholesale trading partners. If you missed us, or need a refresher, here were some of our themes from the week:

Market Trends:

• Transition to Sustainable Energy: We observed a significant interest in the shift towards renewable energy and environmental conservation.

• Impact of Economic and Social Inflation: We continue to adapt to how these factors are affecting the market, especially when underwriting auto liability in the excess space. The industry needs to remain adaptable and responsive.

• Regulatory Changes: The market is notably adapting to impending regulations pertaining to PFAS.  Markets need to think creatively and find solutions for those risks with quantifiable exposure to PFAS and other emerging contaminants.

Aspen’s Emphasis on Stability and Relationships:

In the environmental sector, it’s evident that there is a considerable influx of new capacity. With shifting landscapes and regulatory pressures, brokers require long-term partners with the experience and stability to creatively manage the growing risks.

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