The hard market is the stuff of legend as far as I'm concerned. To me, it appears to be a cyclical and arbitrary theory promulgated by the insurance company to justify the need for increased premiums to fuel shortfalls caused by free market conditions and certain disasters that adversely affect the insurance industry. But that's just me. First, let me say that there may have been a time that the theory of a hard or soft market may have been justified. I've only been in the business since 1986, but the research on the issue is a little sketchy. From...