Weakening prices impacts reinsurers, claims S&P panel
Insurance companies are going to find reinsurers less and less reliable as pricing weakens in the US property/casualty market, panelists at Standard & Poor's Ratings Services Insurance Conference warned last week.
"Everyone pays claims today, but when you get to the bottom of the cycle, they don't pay," said Stephen L. Way, CEO of HCC Insurance Holdings Inc.Among the tactics used by reinsurers to delay payment
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