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P/C Insurance Firms Outperform Other Financial Firms During Downturn

Property/casualty insurers should be commended for performing well and even outperforming banks, brokerages and other financial firms during the recession, insurance analysts said last week...
January 20, 2010

Property/casualty insurers should be commended for performing well and even outperforming banks, brokerages and other financial firms during the recession, insurance analysts said last week at an industry forum. "The business model of the property and casualty industry is not as much about asset risk as the other financial sectors are; it's about liability risk," said Therese Vaughan, CEO of the National Association of the Insurance Commissioners.

"One of the great untold stories of the last year is how well the insurance sector in general has done," said Professor Scott Harrington of the University of Pennsylvania's Wharton School. "Even the life companies, given what happened in residential mortgage-backed securities and asset markets, I think the performance of the overall sector has been truly remarkable."

P&C Insurers Performed Well, Forum Participants Say (National Underwriter 1/15/10)

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