New York - In the April 2006 online edition of Marketplace Realities and Risk Management Solutions, Willis Group Holdings describes events in the natural catastrophe (Nat Cat) segment of the property marketplace as "nothing less than tumultuous." Directly affected are "clients with assets and operations in areas exposed to the Nat Cat perils of wind, flood and earthquake and to the peril of terrorism."With the beginning of the 2006 Atlantic hurricane season fast approaching, "Terms and conditions offered by insurers and reinsurers have deteriorated rapidly and precipitously." The bar has been raised "for program design and marketing strategies for programs renewing in the near term, while prompting comprehensive studies of long-term business plans and risk-funding arrangements."
Willis further observes that:
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