A survey at the Insurance Information Institute’s (I.I.I.) annual Property/Casualty Insurance Joint Industry Forum finds respondents somewhat sanguine about the industry’s financial prospects.
When asked if they believe the industry is on the road to recovery, 72 percent of respondents answered yes. Likewise, 75 percent of the industry executives surveyed expect an improvement in profitability in 2012. Broken down by lines of business, respondents evinced the greatest optimism for improved profits in commercial lines, with 72 percent indicating they expected pricing to improve. Elsewhere, 63 percent of respondents believe there will be an improvement in personal auto and 67 percent expect an improvement in homeowners. Workers' compensation was a notable exception with 55 percent indicating that they do not expect an improvement.
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