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W.R. Berkley CEO: The Market Turn Has Finally Arrived

Over the past several years, a major topic of discussion in the insurance industry is, “when will the hard market arrive”
October 31, 2011

Over the past several years, a major topic of discussion in the insurance industry is, “when will the hard market arrive?” The chairman and chief executive officer of W.R. Berkley Corp., William R. Berkley, says long-awaited turn in the property/casualty market has arrived. As the company posted a 14% increase in third-quarter net premiums written, Berkley said it was the third quarter in a row of increasing rates. He said workers’ compensation rates are showing double-digit increases, although the increase across all lines was 3.5 percent for September. “There’s no question that the market turn is definitive. It is here,” Berkley said.

Read the entire article on insurance market outlook: W.R. Berkley CEO: Market Turn Has Arrived (BestWire 10/27/11)

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