Insurance executives expect negative impacts from mortgage and credit issues to continue affecting their industry's performance in 2009, and in the long term see the most significant challenge as credit and pricing risks, a survey has found.
Their opinions were polled by KPMG, the audit, tax and advisory firm, at the company's 20th annual Insurance Industry Conference in New York.
Eighty-two percent of the 375 executives attending said they expect the credit crisis to have a significantly or extremely negative impact on 2009 performance, compared to just 14 percent who said the problem would be finished by the end of this year.
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