A Guy Carpenter survey says specialty-lines carriers believe maintaining rate levels and new business production pose the biggest challenges for the insurers over the next year.
In its Eighth Annual Specialty Insurance Program Issuing Carrier Survey 2012, 62 percent of respondents say maintaining rate levels pose the biggest challenge. That is slightly higher than 57 percent in 2011, but behind the high of 71 percent in 2010. New business production was a concern of 44 percent of respondents, up slightly from 41 percent in 2011.
From 2006 to 2012, the only time maintaining rate levels did not dominate the question was in
2006 and 2008. In 2006, the first year the question appears, the results were close to even. But in 2008, 77 percent of respondents say new business production was their major concern and 58 percent say it was maintaining rates.
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