As the soft market and sluggish economic recovery linger, property/casualty insurers will have to put renewed emphasis on improved underwriting. So says Peter Porrino, global director of insurance at Ernst & Young’s Global Insurance Center.
“The good news is that the P&C industry is financially healthy,” Porrino says. “However, this fact will create significant challenges for insurers in the months ahead as the soft market continues to depress prices.”
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