Direct and indirect effects of the COVID-19 pandemic will hit every aspect of the industry to varying degrees, in some cases upending multiyear trends in growth and profitability, S&P Global Market Intelligence's US P&C Insurance Market Report says.
The report, which contains new P&C insurance industry projections for 2020 through 2024, predicts the first annual decline in direct premiums written since the Global Financial Crisis, and an end to the industry's two-year run of underwriting profitability.
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