NU Online News Service, Dec. 8, 2:37 p.m. EST
In a report focusing mostly on the energy-insurance market, insurance broker Willis took time to discuss the global insurance-pricing cycle, stating a market turn, which many feel is already beginning, is not necessarily guaranteed to occur just yet.
Willis notes that at the end of 2008, many prognosticators believed the financial crisis would trigger a market hardening. “Indeed, some industry spokesmen jumped the gun towards the end of 2008 and declared that the soft-market conditions had come to an end. What actually happened, though, was the opposite,” the broker says in the report's introduction.
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