Industry reports released over the past week show that plenty ofcapacity still remains for property and casualty lines, but thedirection of pricing remains uncertain.
A report released by Marsh, “Spring 2011 Insurance MarketUpdate,” says capacity is high, but catastrophe losses arebeginning to strain rates, and increases are likely in somesectors.
The insurance broker's report notes that 2011 budgets forcatastrophe losses among many insurers and reinsurers have alreadybeen “substantially eroded.” In some cases those budgets may havebeen exceeded. That portends rate increases in the coming year,principally for catastrophe exposures in those regions immediatelyaffected by recent events.
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