NU Online News Service, July 2, 2:39 p.m. EDT

The property and casualty market has firmed, Wells Fargo Insurance is telling its clients, but a separate Willis Re analysis of June 1 and July 1 reinsurance renewals shows a “highly segmented approach” to pricing, where rate increases are tied to loss activity on accounts rather than a hardening market.

In its P&C Industry Update, Wells Fargo notes that the industry's combined ratio, including both commercial and personal lines, jumped six points from 2010 to 2011. Accordingly, the report says premiums have increased in most lines of coverage.

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