NU Online News Service, May 8, 11:07 a.m.EDT
A recent survey leads The Council of Insurance Agents &Brokers to declare that the commercial property and casualty markethas hardened.
“We've been cautious up to now about declaring a market turn,but I think it's reasonable to say that the market has made a hardturn after two quarters of price increases and tighterunderwriting,” says Ken A. Crerar, president and chief executiveofficer of The Council, in a statement. “It's difficult to predictlength and severity, but the market has turned.”
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