Back in January, Brian Duperreault, president and CEO of Marsh & McLennan Companies, said the property and casualty industry was entering its “first ‘invisible’ hard market,” in which prices would begin to rise–but because of shrinking insurable exposures, little positive impact would be seen in top- and bottom line results.

Nearly a year later, insurers and their agents and brokers are still looking intently for the first visible signs of any market hardening, as premium rates kept falling for most buyers and lines of business.

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