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Hard Market Makes Life Tough For RMs

Risk managers in the year ahead will need an abundance of knowledge, skills and patience to overcome the challenges of a hardening insurance market, risk management experts say.

Carol Murphy, management director for Aon Risk Services in Chicago, sees several hurdles facing risk managers. Ms. Murphy, a casualty and alternative risk-financing expert, said her first concern for 2002 is reductions in excess liability capacity. Several factors could be to blame, including a loss of treaty reinsurance support, she said.

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