The insurance industry will undergo increasing consolidation as part of the fallout from government intervention and potential tax law changes following the financial crisis, a top consulting firm predicts.
Meanwhile, insurance industry stability and certainty may not return for a few years as carriers react to regulatory reform, PricewaterhouseCoopers LLP said.
Indeed, within five years the industry landscape could look markedly different, and Americans may find their insurance policies underwritten by a handful of large, well-capitalized firms that can demonstrate financial strength and economies of scale, PwC projects in a recent report.
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