One effect of the Great Recession and continuing economic turmoil has been the increase in the number of sole proprietorships and small businesses.
As a result, the small Commercial insurance market in the United States is seen as “one of the few bright spots” in the U.S. property and casualty insurance sector, according to a new report from McKinsey & Co., issued today.
The report, “Small Commercial Insurance: A Bright Spot in the U.S. Property-Casualty Market,” also cautions that the market is likely to face intense competition over the next few years, and carriers would do well to take action now to position themselves for the battles ahead.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
