Alan Kaufman, president and CEO of wholesale brokerage Burns & Wilcox, says the “economy is still very rough.”
“You may find some pockets [of increasing rates], and we are pleased to see that, but the hole was dug too deep,” he said during a one-on-one interview at the National Association of Professional Surplus Lines Offices (NAPSLO) Mid-year Leadership Forum in Scottsdale, Ariz.
In other words, what news is a 10 percent increase in premiums—if rates were slashed in half during the height of the soft market?
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