Hard Market Ahead, Says Lockton

With deterioration in profits assured for the final weeks of 2008, insurers may finally stop cutting prices, according to a brokerage firm analysis. Lockton, in its Fall 2008 Market Update, said as carriers enter the year end they face “ominous” circumstances, and it is “certain” that the industry combined ratio, which was at 102.2 in the first half, will continue deteriorating.

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