Hard Market - in the insurance industry, an upturn in the market cycle, with premiums rising and capacity for most types of insurance declining. May be caused by a number of factors, including a decrease in the return on investment for insurers, an increase in the frequency or severity of losses, and regulatory intervention that is considered contrary to the interests of insurers.

Soft Market#

  • one side of the market cycle, which is characterized by low rates, high limits, flexible contracts and high coverage availability.