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CATs Biggest Driver of Rate Increases in Over-Saturated Property Market
It’s a time of transition for the commercial property market. While 2011 experienced numerous global catastrophes that had begun to push rates up slightly, by the third quarter of 2012 some of the increases in rates had started to dissipate according to Mark Bernacki, head of global property for Beazley Group. Bernacki spoke with MyNewMarkets.com Associate Editor Amy O’Connor at the NAPSLO Annual Convention in October about causes of past and future rate increases in the property segment and why an economic recovery is crucial to demand for this class.