The story for the insurance industry in 2015 and heading into 2016 is one of high capacity, competition and softening rates.

Marsh’s “United States Insurance Market Report 2016” notes this trend across the Property, Casualty and reinsurance sectors, and experts at Marsh and Guy Carpenter indicate this might be beyond a phase of the traditional market cycle.

Speaking for the Casualty segment, Stephen Kempsey, U.S. Casualty Practice leader for Marsh, says, “I don’t know if this is a cycle as much as it seems the way of the market going forward. The traditional hard/soft cycles — we haven’t really seen those for some time.”

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