Pronouncements by analysts about soft casualty insurance prices are based on inaccurate broker surveys and are overblown, a top insurer told the Annual Executive Conference for the Property-Casualty Industry. “The pricing pressure is not as severe as what's being reported,” according to William Berkley, chairman of W.R. Berkley Corp. “I think we've got a lot of people crying wolf right now.”

Mr. Berkley directed his “wolf” comments toward V.J. Dowling, managing partner of Hartford-based Dowling & Partners Securities, who participated with Mr. Berkley on the opening panel of the 18th Annual Executive Conference for the Property-Casualty Industry (owned by National Underwriter's parent company).

In addition to debating the state of the U.S. casualty insurance market, industry leaders voiced concern over the existence of tax advantages for offshore competitors and debated catastrophe management solutions, including the benefits and drawbacks of non-traditional vehicles such as sidecars.