= Insurance cycle
{wiki=Insurance_cycle}
The insurance cycle refers to the recurring pattern of fluctuations in the insurance market, particularly the pricing and availability of insurance coverage. It typically consists of two main phases: the hard market and the soft market. 1. **Hard Market:** - In a hard market, insurance premiums increase, and underwriting standards become stricter. Insurers may reduce their coverage options, exclude certain risks, or require higher deductibles.
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