NU Online News Service, May 15, 11:47 a.m. EDT
Insurance prices are not likely to begin rising until early 2010, but federal government actions before then could mean abrupt price spikes rather than gradual shifts, an economist suggested yesterday.
Steven Weisbart, chief economist for the Insurance Information Institute, speaking on a webinar hosted by Advisen, a New York-based research firm, likened the potential impact for the insurance market from proposed reforms in financial services regulation to the steep hard-market price push following rating agencies' changes adopted after Hurricane Katrina.
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