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Expert: Low interest rates are spurring insurance rate increases
A low-interest-rate environment is responsible for increases in insurance prices, a trend likely to continue for at least three more years, says Michael McGuire, chief financial officer of Endurance Specialty Holdings. Climate change "is a great driver of demand" for insurance products, McGuire said, adding that property/casualty insurers are ready to deal with natural disasters. "We just need to make sure we're charging enough," he said.
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