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The top story of 2007 was headlined, “Prices Plummet, With No Letup In Sight,” and not much had changed by the end of the first quarter this year.

Indeed, the headline on NU’s April 21 cover remained grim for insurers: “No Light Seen At The End Of The Soft Market Tunnel.” The story reported that price-cutting was continuing, with capacity still abundant and catastrophe losses low, and no turnaround anticipated in the near term.

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