Editor's Note: This article originally appeared in National Underwriter, P&C.
Property and casualty insurers are seeing rising loss costs, increased levels of litigation, and higher rates of fraudulent claims because of the struggling economy, a recent survey revealed.
Towers Watson's fourth Property & Casualty Insurance Claim Officer Survey showed that personal lines carriers are experiencing higher claim frequency than commercial insurers, with 52 percent of homeowners insurers and 45 percent of auto insurers indicating as much.
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