A.M. Best's "2008 Special Report: U.S. Property/Casualty--Review & Preview. U.S. P/C Industry Records Strong Results--But for How Long?" predicted that, when all is said and done, the industry will see a net income of $59.2 billion in the United States, with that underwriting profit being $19.3 billion. That's despite a drop in net premiums written in 2007, the first time that's happened since 1943, and a softening market. See excerpts from the P/C industry report and find out how to get a full copy at Best's Web site.
As for that softening market, Towers Perrin released its quarterly CLIPS report on price changes between 2006 and 2007, which says, among other things, that carriers saw price declines in all lines looked at by the consultancy. D&O and EPLI saw the biggest price declines between the two years.
March 1, 2008
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