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Lockton: Some C/L P/C Sectors “Transitioning” to Hardening

The insurance market for construction firms, architects and engineers appears to be hardening, according to the latest Lockton Market Update
November 29, 2011

The insurance market for construction firms, architects and engineers appears to be hardening, according to the latest Lockton Market Update. The monthly analysis from the world’s largest privately held insurance broker found evidence of rising prices, something the sector hasn’t seen in several years. “The market is clearly firming in chosen segments and geographies, and while most would hesitate to predict a ‘hard’ market, pricing is under pressure,” said Lockton’s Jamie Knoop, Paul Primavera and Jody Wright in the construction report. “Accounts with good loss histories are still able to take advantage of a very competitive insurance market.”

Read more on the market hardening: Some commercial P-C sectors ‘transitioning’ toward hardening (Insurance & Financial Advisor 11/28/11)

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