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The property & casualty insurance industry had a particularly rough year in 2020 with lost premiums and high claim volumes resulting in harsh hits to bottom lines for many companies. Though the insurance industry overall is poised for recovery in 2021, many P&C insurers will be slower to bounce back as the pandemic leaves lasting effects on some service lines. For example, the initial wave of unemployment will likely continue to stall the sale of workers' compensation insurance, and small business premiums will be slow to recover as shops keep their doors closed or more decide to shut down.
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