Standard and Poors (the rating agency) says that it is maintaining a “negative outlook” for the Commercial P&C sector, due to the pricing cycle it has gone through the last 3 years (and the decline in investment income).
Thus... a number of rating downgrades are expected to occur.
I would think that the above should not be a surprise to anyone.
A number of primary carriers are still “buying” business at ridiculous prices, and continue to invade areas like the surplus lines marketplace where they do not belong.
So... if you’re thinking of changing jobs, don’t forget to check out the other carrier’s rating, and if you’re feeling good about where you are, you’d better check out your rating also!
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