Keep the ship on a steady course
Two fruitful years have gone some way to making up for losses that had previously hit the industry hard, but as Paul Lang reports, the threat of further troubled waters ahead must be negotiated
Recent months could mark a significant tilt of industry fortunes if signs of rising competition succeed in eroding the gains of the last three years.
The pressure on mid-range commercial premiums felt at the start of the year was certainly enough to send warnings through the market to maintain much needed underwriting stability. An over-reaction? Well, some believe that it will not take much to knock the ship seriously off course.
From the massive hikes of 2001, annual increases in commercial
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