Professional liability insurers are becoming increasingly able to separate the wheat from the chaff in terms of what risks they will cover, creating a relatively stable environment for much of the market.
Although the consensus is that any overall changes to the market will be gradual, there is some variance in opinion as to the direction those changes will go.
Jeffrey Klenk, senior vice president at St. Paul Travelers Bond in Hartford, Conn., said the market is relatively stable, adding, “I think it's fair to say, generally at this point, that it's a softening market.”
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