Net income and profitability for private U.S. property/casualty insurers declined sharply in 2011 as a result of natural disasters and other catastrophic losses. However, insurers continue to have the financial resources necessary to meet the demand for coverage, according to industry analysts.
“Despite the most active and deadliest tornado season in more than half a century and a host of other challenges, insurers emerged from 2011 strong, well capitalized, and capable of paying future claims,” said Robert Gordon, SVP for policy development and research for the Property Casualty Insurers Association of America (PCI).
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