Forrester Research recently predicted the technology sector is will see a recovery in 2010. The same could hold true for the property/casualty insurance industry. According to a survey conducted by the Insurance Information Institute (I.I.I.) at its 13th annual Property/Casualty Insurance Joint Industry Forum, 77% of executives in the property/casualty industry expect financial troubles to diminish in 2010.
Yet, looking at the industry’s profitability, a majority of industry leaders believe that profits will not improve in most property/casualty lines. Broken down by lines of insurance, only 51% of respondents believe there will be an improvement in personal auto; 37% expect an improvement in homeowners; 16% of respondents expect an improvement in workers compensation; and 23% of respondents expect an improvement in commercial lines.
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