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Household Debt Hampers Insurance Sales

Households are reducing their financial obligations, which mean one thing to the insurance industry: impeded growth.

By Chad Hemenway | Updated on November 21, 2010

NU Online News Service

Households are reducing their financial obligations, which mean one thing to the insurance industry: impeded growth.

Speaking at The Annual Executive Conferences in New York, Steven N. Weisbart, a senior vice president and chief economist for the Insurance Information Institute, said consumers’ diminished buying power, especially for financial products, will continue to stand in the way of growth for insurers.

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