Market Hardening In A Hurry, Brokers Say
More evidence has come out indicating that it is getting tougher for commercial lines accounts to find insurance among primary carriers, and they are increasingly turning to the alternative market for help.
The Council of Insurance Agents and Brokers released a benchmark survey last week that found insurance carriers tightening policy terms and conditions “significantly” as rates continue their upward spiral. These developments, brokers say, are forcing them to turn to alternative market vehicles to fill their clients' coverage requirements.
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