NU Online News Service, Dec. 14, 2:22 p.m. EST
The hard market for financial institutions' insurance is unlikely to last through to the end of 2010, according to the latest Willis FI Index from insurance broker Willis Group Holdings.
Willis' fourth-quarter FI market update–published by FINEX Global, the broker's London-based Financial, Executive Risk and Professional Liability business–says that while insurers are still concerned about their 2007 and 2008 loss ratios and are, at present, underwriting very conservatively, the expected influx of new markets for 2010 will help generate more favorable trading conditions for clients.
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