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84% of Insurers Expect to Increase Revenue
The general economy is continuing to improve, and insurers are optimistic about their growth prospects, Rieder says. “Certainly there is the positive impact of an improving economy. The current unemployment rate of 5.8 percent is the lowest it has been in many years,” Rieder says. As the economy continues to improve, businesses across industries are hiring, which creates an underlying exposure base that companies have to insure, he says, which stimulates organic growth. "New home and car purchases continue to increase, so there’s more to insure. Up until now rates, year-over-year, have continued to increase. Going into 2015, that may slow down, but with the wave of improvement in the economy, people are forecasting better results.” Source: The Ward Group