Much like how the devastation of the Deepwater Horizon calamity will be felt for years to come, the disastrous effects of the financial crisis continue to lap against the shores of the property/casualty industry.
In the aftermath of the economic meltdown, P&C insurers have turned to releasing significant amounts of reserves to buoy their position despite the deterioration of underlying business conditions. But this likely needs to change, says Standard & Poor's Ratings Services in an article published today, entitled "Why U.S. Property/Casualty Insurers Might Have To Put The Brakes On Reserve Releases."
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