A Quantitative Study of the Effect of the Insurance Underwriting Cycle on United States Insurance Company Impairment

  • Douglas Ruml Ohio Dominican University
Keywords: Quantitative Study, Effect of the Insurance, Underwriting Cycle, United States, Insurance Company, Impairment


The underwriting cycle in the property and casualty insurance industry is a well-known phenomenon; this research paper attempts to quantify the correlation of softening or hardening markets in the United States and insurance companies’ subsequent impairments. Through statistical analysis, the research consists of a multi-decade, multivariate regression analysis investigating the historical levels of insurance company impairment (dependent variable) during a number of insurance cycle soft markets (independent variable). It was found that following soft markets there were significant relationships to the annual number of property and casualty insurance carrier impairments for the entire universe of companies during a recent period.

Author Biography

Douglas Ruml, Ohio Dominican University

Assistant professor of finance at Ohio Dominican University and Finance Program Director


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