New York City
A hard market may not be arriving anytime soon, but several insurance executives at last week's S&P conference suggested that the industry is in good shape, even in the midst of a struggling economy, while others warned against complacency.
In spite of asset losses and catastrophe insurance claims, property-casualty carriers have not felt the kind of pain that fuels a hard market, according to Jay Cohen, a managing director in the equity research division of Bank of America-Merrill Lynch, one of many offering their assessment during the Standard & Poor's Insurance 2009 conference here.
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