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Soft Market Leaving Marine Writers

As the property-casualty industry goes, so goes the ocean marine market, according to professionals within the segment who note that the overall softening commercial market is prompting carriers from

By Phil Gusman | Updated on November 11, 2007

As the property-casualty industry goes, so goes the ocean marine market, according to professionals within the segment who note that the overall softening commercial market is prompting carriers from other lines to cast their net into the marine sector, boosting capacity and driving down prices.

Nigel Fitzgerald, North American marine manager for Liberty International Underwriters, said of the ocean marine segment, “I think it’s relatively aligned to the general [market] cycle.”

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