P/C insurers outperform other financial firms during downturn

Property/casualty insurers should be commended for performing well and even outperforming banks, brokerages and other financial firms during the recession, insurance analysts said last week at an industry forum. "The business model of the property and casualty industry is not as much about asset risk as the other financial sectors are; it's about liability risk," said Therese Vaughan, CEO of the National Association of the Insurance Commissioners.

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