Put away the champagne and the party hats. If you're an agent or broker expecting to celebrate the coming of 2010 because you believe the soft market cycle is coming to an end on New Year's Day, you'll be sadly disappointed, with premium and commission growth expected to remain flat at best thanks to a tough economy and the abundance of capacity.
Looking back over the past three quarters of 2009, indicators are that the soft market will be around for a bit longer.
At the half-year point of 2009, one major brokerage survey–the Council of Insurance Agents and Brokers' member market survey–found insurance rate cuts continuing to moderate, but certainly there are no signs of routine price hikes ahead.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.