Most sports and entertainment industry insureds were able to obtain property and casualty insurance rate decreases in 2009. The sports and entertainment industry continues to face challenges arising from the current economic and investment environment as attendance, advertising, sales, and revenues have been negatively affected. However, improvement has been seen in the availability of capital, resulting from a recovering credit market and stability with respect to market valuations.

Looking Ahead

A soft insurance market likely will be seen for most lines of coverage for most sports organizations through the first quarter and possibly second quarter of 2010. Property and casualty insurance rates likely will continue to decrease due to an increase in capital and a lack of significant claim activity.