As we move through the first part of 2009, there is still plenty of capacity in property-casualty lines, but most of us are seeing some changes beginning to emerge.

Specifically, there are signs that our country's financial crisis, coupled with last year's catastrophic losses and an overall deterioration in combined ratios, will halt the erosion in price, terms and conditions.

We could very well see some firming in pricing and hardening on the property side in the second quarter of the year, along with rate increases in catastrophe areas. Casualty lines are generally not far behind.

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