Market conditions for insurance in the nonprofit sector have shown sure signs of a hardening over the past six months, with prices stabilizing overall and slowly inching upward for some classes of risk.
“After several years of price decreases in a very competitive market, the trend now seems to be toward steady pricing,” says Christi Hatcher, managing director for Markel Specialty Commercial, a division of Markel Corp. in Richmond, Va.
In fact, new business at social-service organizations rose “dramatically” in 2011 after many years of a soft market, says Hatcher.
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