NU Online News Service, June 8, 1:37 p.m. EDT
NEW YORK – The property and casualty market is seeing signs of discipline, and psychologically, underwriters are ready for a pricing turn, but a broad market change is not likely with so much excess capacity remaining in the marketplace, P&C executives here say.
Speaking at the Standard & Poor’s 2011 Insurance Conference, David S. Cash, CEO of Endurance Specialty Holdings Ltd., says the broader P&C market is “reasonably disciplined” right now. He says discipline in the industry is evident as individual companies begin to exit from lines of business because they feel they are not getting adequate rates.
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