The London Market has underestimated true underlying rate reductions, despite insurers and brokers using rate-monitoring processes with more technical and actuarial input, according to Ernst & Young.
Its survey, The price is right? Technical pricing and rate monitoring in a softening market, polled 15 of the largest London Market insurers. The majority of those questioned also thought the market could soften further.
Almost three-quarters (73%) believed they had underestimated the impact this coul
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