The recession will suppress premium exposure growth and prompt a prolonged soft market for most commercial lines through 2010, Conning Research and Consulting predicts.
Indeed, the property and casualty market won't see a turnaround until 2011, Hartford-based Conning said in its latest forecast.
“The combination of continued price decreases in most commercial lines of business and the recession suppressing exposure growth continues a string of negative premium growth for 2009 that began in 2007,” noted Clint Harris, a Conning analyst.
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