PC360 brings our readers the top quotes from major industry players for the week of May 7. Industry leaders comment on topics ranging from the hardening commercial-insurance market, to the volatile state of workers' compensation.

The Council of Insurance Agents & Brokers President and CEO Ken A. Crerar declaring that the hard market has arrived after the Council's latest quarterly market survey:

“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 hard turn after two quarters of price increases and tighter underwriting. It's difficult to predict length and severity, but the market has turned.”

MarketScout CEO Richard Kerr discussing a possible shift in standard-carrier appetite for tougher risks after MarketScout's latest Market Barometer showed admitted and non-admitted markets pricing risks similarly:

“Recently, we have noticed admitted and non-admitted insurers are pricing similarly. Historically, there has been a considerable difference in the underwriting approaches among the various types of insurers. The recent similar pricing strategies could ultimately lead to more business for the non-admitted insurers as admitted insurers begin to restrict their risk appetite and simply decline to write tougher accounts.”

NCCI President and CEO Steve Klingel, commenting on the latest NCCI State of the Line workers' compensation analysis:

“NCCI has observed a number of countervailing indicators in current industry conditions. In some ways, we are seeing an improved condition from 2010. By other measures, however, the market remains in a worrisome state. In sum, we see a market that is conflicted as to its forward trajectory, and that makes for a challenging environment.”

Property and casualty insurers added 2,000 jobs in March, but Insurance Information Institute President Bob Hartwig says the long-term downward trend for P&C-insurer employment may not be over:

“The downward trend that began [for P&C carrier employment] in mid-2008 has not clearly reversed, although employment in March 2012 rose by 2,000. To put this gain in context, it is worth noting that P&C employment often rises in March; in the 23 years starting with 1990, for example, it rose 17 times, fell only three times and was flat three others.”

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