Industry expert: P/C insurance market to harden soon

07/28/2009 | PropertyCasualty360

Earning conditions within the insurance industry indicate the market will harden and prompt property/casualty insurers to increase prices by year's end or early 2010, according to Berkley Corp. Chairman and CEO William R. Berkley. During a conference call with analysts, Berkley said a rating agency downgrade could cause the market to turn hard and observed standard line insurers are starting to avoid the excess and surplus lines market.

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