NU Online News Service, May 8, 11:07 a.m. EDT
A recent survey leads The Council of Insurance Agents & Brokers to declare that the commercial property and casualty market has hardened.
"We've been cautious up to now about declaring a market turn, but I think it's reasonable to say that the market has made a hard turn after two quarters of price increases and tighter underwriting," says Ken A. Crerar, president and chief executive officer of The Council, in a statement. "It's difficult to predict length and severity, but the market has turned."
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