Commercial lines carriers may not enjoy the price increases they are anticipating next year, according to a property-casualty insurance analyst.
Bear Stearns analyst David Small wrote in a note to investors today that recent indications portend price increases lower than some managements are currently expecting.
"Our conversations also highlighted that this will be a very late renewal season, with market participants hesitant about binding contracts too early before the market clearing prices have been established," Mr. Small wrote.
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