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Soft market conditions persist for insurers writing service industry risks, thanks in part to the lousy economy, according to experts in the field, who point out that standard carriers continue to write business that is generally the domain of excess and surplus lines companies, indicating that competition is still fierce for this line of business.

While professionals said they expect the market to turn near the end of the year, they noted the effects of the challenging economy have already prolonged the current soft market conditions, causing carriers to battle harder over a shrinking premium target base.

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