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The property/casualty insurance industry is expected to see an underwriting loss this year, with no let-up in the soft market through 2010 barring a substantial market shift, according to Fitch Ratings.
The findings were in Fitch's "Review and Outlook 2009-2010, U.S. Property/Casualty Insurance." The report said Fitch projects the p&c industry will come in with a combined ratio of 101 this year and an accident-year combined ratio estimated at 103.
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