A recent survey of commercial insurers indicates rates are beginning to harden, but brokers speaking at the Reinsurance Rendezvous in Monte Carlo paint a picture of an uncertain market, particularly for reinsurers, and of executives searching for direction on how to be profitable.
According to Towers Watson's recent "Commercial Lines Insurance Pricing Survey," commercial-insurance prices increased by almost 1.5 percent in the 2011 second quarter after the first quarter remained flat, relative to the same time period a year ago.
Towers Watson says its survey results, which used data by 38 insurers representing about 20 percent of the U.S. commercial-insurance market, is consistent with a CFO survey it will be releasing soon, in which 75 percent of respondents say standard property-market prices were at the bottom or turning upward.
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