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The decades-long trend of falling property insurance rates — and complacent buyers — is ending, according to the Insurance Marketplace Realities 2019 Spring Update from Willis Towers Watson (WTW). The report serves as a guide for North American insurance buyers preparing for upcoming insurance program renewals.

For decades, carriers have been warning that undisciplined rate setting was unsustainable, yet pricing for certain lines (particularly property & casualty) have kept falling, in spite of accumulating catastrophic losses and the pressure of alternative capital and traditional capital competing for market share. Finally, however, that downward trend appears to be changing for the rest of this year.

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