The chief executive of the online insurance exchange MarketScout contends that three property-casualty insurers are keeping rates low at a time when business realities call for price-hardening, but he refuses to name the offending carriers.

“Every sensible economic indicator tells us rates should be increasing, yet there are still three large, admitted, publicly-traded insurers clamoring for premium, seemingly at any rate and continuing to prolong the soft market,” said Richard Kerr, chair and CEO of MarketScout, in a scathing commentary accompanying the release of the Dallas-based firm's monthly “Market Barometer” survey on insurance market pricing.

“In our new financial world, the CEOs of the terrible trio are ultimately going to have some explaining to do,” he observed.

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