While the commercial property and casualty industry continues tosearch for signs of a hardening market, several countervailingeconomic factors are combining to slow any positive development.The deepening recession will continue to reduce premiums in linesbased on payroll and sales revenues while generating increasedlosses in many lines sensitive to the economic downturn.
Carriers that want to emerge stronger from this toughenvironment must improve underwriting discipline and processefficiency in a cost-effective fashion.
Unfortunately, it is not easy in commercial insurance to reduceunderwriting costs while maintaining underwriting control. This ispartly because, unlike personal lines, most commercial insurance isstill written manually and with minimum use of advancedtechnology.
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