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The economic conditions of the last few years have affected the personal lines of the insurance industry more than any other line as carriers worked in a competitive market that saw fewer policies being purchased because of varying issues such as unemployment, layoffs, and the mortgage crisis.

“With a continuing soft market and very competitive conditions creating profitability pressures, personal lines carriers are focusing on growth strategies, expense reduction, and improving underwriting results,” says Karlyn Carnahan, principal in the insurance practice of Novarica.

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