Insurance executives expect continued rate declines for major insurance lines, less profitability, and flat to negative premium growth this year, according a recent survey by Insurance Information Institute.
I.I.I. polled insurance executives who gathered Tuesday at the 12th annual Property/Casualty Insurance Joint Industry Forum in New York.
Respondents agreed that the p-c industry can expect soft market conditions to continue. Fifty-two percent said they expect no improvement in pricing for personal auto. Fifty-five percent said the same for homeowners, 74 percent for workers' compensation, and 62 percent for commercial lines.
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