Editor's note: Pamela Ferrandino is executive vice president, national practice leader for casualty, placement at Willis. This entry originally ran on WillisWire.
Moderating rate pressure continues in the casualty marketplace in North America, and we are counseling risk managers not to take the money and run, but to sit down with their carriers and consider several ways to take advantage of what is turning into a buyer's market. Renewals are largely flat on primary policies and rates are falling in umbrella and excess towers.
Pressure on casualty insurers is coming from several areas with no sign of letting up. As low interest rates compel carriers to bring in premium dollars, capacity remains abundant, which further promotes competition.
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