Industry reports released over the past week show that plenty of capacity still remains for property and casualty lines, but the direction of pricing remains uncertain.
A report released by Marsh, “Spring 2011 Insurance Market Update,” says capacity is high, but catastrophe losses are beginning to strain rates, and increases are likely in some sectors.
The insurance broker's report notes that 2011 budgets for catastrophe losses among many insurers and reinsurers have already been “substantially eroded.” In some cases those budgets may have been exceeded. That portends rate increases in the coming year, principally for catastrophe exposures in those regions immediately affected by recent events.
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