While the costs of goods and services may be declining lately due to the effects of the economic crisis, insurance buyers wont have the same luck.
According to a recent market update from global insurance broker Lockton, insurers should expect to raise premiums in the coming months thanks the deterioration of underwriting performance, evaporation of investment income and decline in profitabilitya "perfect storm" of negative developments for insurers in 2008. As a result, diminished capacity and financial pressures may now give underwriters greater incentive to maintain pricing discipline than during the last several years.
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