A.M. Best rating firm executives said that despite recent hurricanes and the financial crisis involving AIG, its outlook for the property-casualty insurance sector is stable. Speaking during a telephone conference call, they generally expressed cautious confidence in AIG despite its current difficulties, and said the rest of the market is generally solid. For the market as a whole, they said insurers at this point still have a financial cushion based on the previous hard market pricing levels. The Best experts said they see a short- term stabilization of pricing, but the long-term trends are for a decrease. AIG’s problems were not seen as impacting pricing.

P-C Sector Still Okay, Says Best (National Underwriter 9/24/08)

September 26, 2008