Tuesday, November 25, 2008

Insurance price cuts are ‘irrational,’ says Liberty Mutual's Kelly

Commercial insurers are offering coverage for less than what they'll likely pay out in claims in order to win customers, Liberty Mutual CEO Edmund “Ted” Kelly said today in a conference call with analysts.

www.financialweek.com/apps/pbcs.dll/article?AID=/20070724/REG/70724006/1003/rss02&rssfeed=rss02