While some insurers are taking action to cope with climate change, there is a public perception that the industry is an obstacle to dealing with the issue, insurance professionals said.

Insurance company executives said insurers have themselves to blame for the prolonged soft market.

The soft market deepened last month for the property and casualty insurance industry, particularly for bigger buyers, with the overall composite rate declining 5 percent, compared with 4 percent in January, MarketScout reported.

As the economy goes, so goes the insurance market, excess and surplus lines experts agreed at a meeting here.

An economic recovery could halt the movement by standard carriers into markets traditionally served by excess and surplus lines insurers, industry experts said.

Everest Re Group, Ltd. said its preliminary loss estimate for exposures relating to the Chile earthquake is $225 million and Hannover Re Group said its quake losses stand at $253 million.

An economic recovery could halt the movement by standard carriers into markets traditionally served by excess and surplus lines insurers, industry experts said.

Safety Insurance Group reported 2009 fourth-quarter net income off by 13.4 percent compared with the 2008 period, after a settlement with Massachusetts for overcharging and a fall in net earned premiums.