Brokers See Problems In A Soft Market

WHITE SULPHUR SPRINGS, W.Va.--Insurance brokers at an industry meeting here predicted an extended soft market cycle and the head of one leading firm said he sees it accompanied by a variety of problems

By Mark E. Ruquet | Updated on October 10, 2007

WHITE SULPHUR SPRINGS, W.Va.–Insurance brokers at an industry meeting here predicted an extended soft market cycle and the head of one leading firm said he sees it accompanied by a variety of problems.

Michael G. Cherkasky, Marsh & McLennan’s chief executive officer and president, said as the downward price pressure focuses the business on cost there is a question whether insurers have the specialists needed to settle and pay claims in the future.

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