The property-casualty insurance industry is in better shape than other financial institutions, but 2009 will likely be marked by changes in both rates and regulation, industry executives said.
Five executives from the insurance brokerage subsidiaries of New York-based services firm Marsh & McLennan Companies and the president of the Insurance Information Institute discussed the state of the insurance marketplace and the direction it may be going in 2009.
In a Web seminar sponsored by Marsh, titled "Global Insurance Markets in 2009," the executives pointed to evidence of rate increases across all lines of business, while I.I.I. President Robert Hartwig noted that while the industry comes into 2009 in better shape than others, federal regulatory oversight may be unavoidable.
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