Just a year after what seemed like a cataclysmic time for insurers, top brokerage executives gathered here expect prices to keep falling in most lines except for still-dicey property-catastrophe exposures.
Overall, premiums will keep falling in most U.S. lines, at a rate of 5-to-10 percent–but this is to be expected given a lack of hurricane losses thus far this year, strong profit reports and an influx of capital into the industry, noted a number of major players here at the 93rd annual Insurance Leadership Forum of the Council of Insurance Agents & Brokers.
Martin P. Hughes, chairman and chief executive officer of Chicago-based Hub International Ltd., called the condition of the market status quo, although he does see rates falling through 2006 and into 2007.
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