MarketScout CEO Richard Kerr is a shameless tease! In commenting on his firm's “Market Barometer” survey, he asserted “there are still three large, admitted, publicly-traded insurers clamoring for premium, seemingly at any rate and continuing to prolong the soft market.”
However, he refuses to identify “the terrible trio” keeping prices soft despite the fact that “every sensible economic indicator tells us rates should be increasing…”
“Even the E&S market is refusing to chase rates down, sitting on the sideline as the terrible trio slashes each other to bits,” he said. “Our guess is prudent insurers are waiting to pick up the fallout when the terrible trio have their day of reckoning.”
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