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Workers compensation pricing soft, but for how much longer?

Publication: Business Insurance
Publication Date: 14-JAN-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Workers compensation pricing soft, but for how much longer?(Spotlight: Property/Casualty Market Report)(PMX Industries Inc.)

Article Excerpt
Byline: ROBERTO CENICEROS

Conditions in the workers compensation insurance market remain competitive yet rational, as many accounts with first-quarter renewals garner price reductions from insurers looking to maintain market share, several sources say.

Competitive pressure is greatest for excess coverage, although desirable accounts also are seeing reductions at the primary level, they add.

While some observers expected pricing to rise for January renewals, prices are still declining, said Jane A. Keegan, enterprise risk manager for the Port of Oakland in California.

PMX Industries Inc. expects a slight decrease for its Jan. 19 workers comp renewal, said Patrick W. Thompson, credit and risk analyst in Cedar Rapids, Iowa.

"I think the market is softening slightly,'' Mr. Thompson said.

While PMX had an...

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