Insurers could face trouble for not raising rates, exec says

04/24/2012 | PropertyCasualty360

The hardening of the insurance market is becoming more noticeable, and insurers could face problems if they don't increase rates, says William Berkley, CEO of W.R. Berkley. "Hard markets always start this way, and then something happens," Berkley says. Companies struggle to overcome previous underpricing of coverage as they face the onset of a hardening market, he says.

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