NEW YORK--Pronouncements by analysts about soft casualty insurance prices are based on inaccurate broker surveys and are overblown, a top insurance executive told an industry conference here yesterday.
"The pricing pressure is not as severe as what's being reported," said W.R. Berkley Corp. Chairman William Berkley.
"I think we've got a lot of people crying wolf right now," he added, directing his comments toward V.J. Dowling, managing partner of Dowling & Partners Securities based in Hartford, Conn., who participated with Mr. Berkley during the opening panel of the 18th Annual Executive Conference for the Property-Casualty Industry in New York yesterday.
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