NU Online News Service, June 5, 3:32 p.m. EDT
The chief executive of the online insurance exchange MarketScout announced that three unnamed insurers are keeping rates low at a time when business realities call for market hardening.
In the Dallas-based company's release of its monthly barometer on insurance market pricing, Richard Kerr, chairman and chief executive officer of MarketScout, said, "Every sensible economic indicator tells us rates should be increasing, yet there are still three large, admitted, publicly traded insurers clamoring for premium, seemingly at any rate and continuing to prolong the soft market."
He did not respond to calls and e-mails asking him to identify the companies involved.
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