Following the recent recession, there are pockets of significant opportunity and accelerated growth for the U.S. insurance industry, but a proactive approach is mandated to realize that premium growth. This comes from "The Uneven Economic Recovery and Its Impact on the Commercial Insurance Market," an article by MarketStance, a resource for demographic data as well as analytical services for the U.S. insurance industry.
According to the article, which provides an overview of the recent recession and details about how this economic downturn differed from past recessions, soft demand for coverage will continue for several more years due to the recovery's tepid pace. Further, MarketStance found that due to pronounced differences in the geographic experience of the recession, state, county and even ZIP code-specific planning, marketing and underwriting may be necessary for P&C insurers going forward.
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