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Willis Group Holdings, the global insurance broker, expects insurance buyers will see a mix of rising and falling commercial Property/Casualty rates in 2013 as they face a complex marketplace that continues to defy the standard hard/soft market cycle. Modest rate increases in Casualty, Executive Risks and several specialty lines will be balanced by declining rates for non-catastrophe-exposed Property programs and other risk areas, according to Willis’ 2013 Marketplace Realities report.

According to the report, insurance buyers with catastrophe (CAT)-exposed Property risks can expect flat renewals, while buyers with non-CAT exposed risks will experience decreases in the five to 10 percent range. Casualty lines are experiencing some upward movement and General Liability buyers are facing rate increases in the three to 7.5 percent range, with Excess rate increases running a higher on some programs, Willis projects. Price firming is expected to continue into 2013 for some specialty risks, including primary Directors & Officers Liability, Employment Practices Liability and some segments of Construction, according to Willis experts.

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