The financial results for the P&C industry are in and they are not pretty.
The highlights:
Loss ratios continue to climb. 2008 marks the continuation of a five-year trend of deteriorating underwriting results.
Price changes (year to year) have flattened.
Investment losses cut deep.
As you plan your 2009 renewals, be aware of your carrier's financial performance. As uncertainty about our economic future continues, underwriters will focus their energy on profitable accounts and take flight or re-underwrite accounts that show poor experience.
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