NU Online News Service, July 11, 12:42 p.m. EDT
With the onset of the hurricane season, the insurance industry is exhibiting signs of reaching its soft-market bottom as capacity is beginning to be reined in and some lines of business are seeing price increases, according to a report from insurance broker Marsh.
In its Second Quarter 2011 Insurance Market Update, Marsh says the global catastrophes in New Zealand, Australia and Japan have "depleted insurers' 2011 catastrophe claims reserves" before the beginning of the June 1 hurricane season.
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