A broker survey reveals further signs that the commercial property and casualty market's long soft-market cycle may be grinding to a halt, but one executive says well-run insurers shouldn't have to rely on a hard-market swing to make a profit.
The Council of Insurance Agents & Brokers released its second-quarter 2011 Commercial P&C Market Index Survey, in which half of respondents say they saw "no change" or a 1 percent to 10 percent price increase for all size accounts across the country.
"When you look at the trend line over the past year, pricing has steadily inched upward," says Ken A. Crerar, president of The Council. "It isn't increasing by leaps and bounds, but there appears to be some momentum."
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