It is imperative in a hard market to understand coverages. What they are, what they cover, and why they are necessary. In a hard market underwriters not only want rate they don’t want unnecessary throw-ins that aren’t necessary. They will need to document and explain to their management why they wrote certain things and did they understand what was included.

Be prepared. Know your stuff. Understand loss picks no matter what the size of the premium.  Understand how loss affects premium and how it makes up premium. eg. Guaranteed cost premium is supposed to contain 60-65% 0f premium. If the new prices are way out of line with that formula either way there is opportunity.