The composite rate for U.S. P&C commercial lines increased to plus-5 percent in September 2013 from plus-4 percent in August, according to the MarketScout Barometer.
“There are several medium sized publicly traded insurance companies who are encountering challenges in their ongoing business operations,” said Richard Kerr, CEO of MarketScout. “These companies may be sold, restructured, or placed into run off unless they structure some creative solutions to get them past their current financial crisis. Very capable, smart insurance executives lead each of these firms. It just goes to show how quickly things can go wrong if an insurer experiences adverse loss development. Rates will increase if a few more companies experience similar deterioration.”
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