Increase in catastrophe losses to drive up premiums - PCIAA
(BestWire) — An increase in insured losses from a larger number of catastrophes in 2008 is just one factor of several that could be "squeezing the industry at once" to result in higher premiums.
"(Catastrophes) very well could affect rates but there are many factors at play right now," said Lynn Knauf, director of personal lines for the Property Casualty Insurers Association of America.
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