Where there may have been some qualification last year over the depth and speed of the softening market, there is virtually no dispute today about the direction insurance rates are going–DOWN!–with the increasingly precipitous drop likely to continue for months and perhaps even a couple of years to come.
However, many also contend there are speed bumps along the way to prevent carriers from going off the deep end on prices–including pressure from shareholders and rating agencies to maintain profitability.
For the moment, however, it looks as if absent a major catastrophe, this will be a buyer's market for quite some time to come.
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