This
graphic speaks for itself and presents the results of the 3rd
quarter 2011, Council of Insurance Agents & Brokers rate survey. It’s
clear a market turn has begun and all insurance producers should think
seriously about managing expectations of their client base by advising them of
the impact of such a turn. It is still early days and how quickly and how
far this change will go is presently unknown. However, it’s clear a turn
has begun. This is the result of years of under pricing of commercial
insurance products, sustained low investment income, reduction of excess claim
reserves, all exacerbated by significant U.S. and worldwide catastrophe losses
that have occurred over the last 18 months.
- Jerry Sullivan
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