Insurers Entering First ‘Invisible Hard Market,’ MMC’s Duperreault Says

National Underwriter Property & Casualty

Insurers Entering First ‘Invisible Hard Market,’ MMC’s Duperreault Says

The property-casualty industry is entering an “invisible hard market” as exposures disappear in a contracting economy, which hides the bottom-line benefits of rising prices, Brian Duperreault, the head of Marsh & McLennan Companies warned.
“We are in the beginning stages of a hardening market, but countervailing economic forces are turning this into our first ‘invisible’ hard market,” according to Mr. Duperreault, MMC’s president and chief executive officer.

Read full article: http://www.propertyandcasualtyinsurancenews.com/cms/nupc/Weekly%20Issues/issues/2009/03/News/P03DUPERREAULT?origin=Reinsurance

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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.