State of the industry: Tilting away from further improvement

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By Chad C. Karls | 01 April 2009
PIAA members had a record underwriting year in 2008. However, investment results dropped precipitously, and the year brought increases in the level of enterprise risk and associated challenges. The industry appears to have reached a tipping point, but the next phase of the market cycle will depend on factors like future investment results and the adequacy of the reserve position.