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Insurance

  Insurance   |   Terms
  • 1089
  • April 20, 2020
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Soft Market

A market that is characterized by high levels of competition among insurance firms, decreasing prices, and declining underwriting standards as firms fiercely attempt to grab market share. Such market conditions typically results in reduced profitability and increased claims, which, consequently, cause underwriting losses and decreased underwriting capacity. An example is the soft market conditions that grappled the property and casualty (P&C) insurance business in 2008.


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