The P&C market is beginning to harden, according to 71 percent of insurers surveyed by FirstBest, which asked, “At what stage do you find the market?” 18 percent felt the market was already hard and only 11 percent felt the market was still soft.
“While we did not include agent and broker responses in the survey findings, given the response rate was statistically smaller, the sentiment this group provided was in-line with their counterparts at commercial-lines carriers—that they were experiencing a hardening market even before Hurricane Sandy,” said Joseph Pilkerton, Co-Founder and COO of FirstBest Systems.
