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Berkley Chief Says Hard Market Inevitable and Soon

Many industry observers have been asking, will a hard market arrive and when? William R. Berkley, chairman and chief executive of W.R. Berkley Corp., said...
August 4, 2009

Many industry observers have been asking, will a hard market arrive and when? William R. Berkley, chairman and chief executive of W.R. Berkley Corp., said he believes price increases occurring by the end of this year or the beginning of 2010 are inevitable. Speaking to financial analysts during a conference call, Berkley predicted that conditions are set for a hard market and his company is already seeing signs of increases. "This is the first time we are seeing more increases in areas than not," said Mr. Berkley, saying June rates increased 0.2 percent, the first time the company as a whole has seen increases since as far back as 2005.  He said there is little doubt prices will be up further before the end of the year.

Berkley Chief Says Hard Market Inevitable And Soon (National Underwriter 7/28)

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