Rates for commercial lines insurance will continue to rise in 2013 thanks to above average losses, low investment returns and receding reserve releases. However, according to a new report published by Marsh, traditional signs of a conventional hard market have yet to occur. “Price increases are not uniform, capacity is plentiful, and competition among insurers remains intense,” says Marsh in its “US Insurance Market Report 2013.” Insurance Journal has the full article here.
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