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E&Y Says 2009 May Be "Transformational"

In its recent 2009 Insurance Outlook - U.S. Property and Casualty report, Ernst & Young (E&Y) offered some encouraging words. The company noted that although the P&C industry suffered what it termed

By staff Writer | Updated on February 28, 2009

In its recent 2009 Insurance Outlook – U.S. Property and Casualty report, Ernst & Young (E&Y) offered some encouraging words. The company noted that although the P&C industry suffered what it termed “significant isolated damages” recently, it also declared it had suffered “no serious general impairment.”

While acknowledging that 2009 is not without risks from continuing volatility in investment and underwriting performance, E&Y also said this may be the beginning of a “transitional if not transformational environment” in insurance. Citing the need to find opportunities in a challenging landscape, the company identified what it called “seven key actions” for 2009. Here is the list, along with selected excerpts from the report:

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