NU Online News Service, June 3, 3:30 p.m. EDT
Standard & Poor's said property and casualty insurers will not be able to sustain the current pace of reserve takedowns in the face of deteriorating business conditions in an announcement today.
In addition, rating downgrades could be in store for some carriers if the New York-based rating agency determines their reserve levels are deficient based on its independent evaluations of reserve adequacy, S&P warned.
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