Property/casualty insurers are concerned about budget squabbles in Congress, insurance executives said at the annual Property/Casualty Joint Industry Forum. Legislative deadlock is resulting in an "incredible pent-up demand," said The Hartford CEO Liam McGee, adding that a survey by the firm found that pessimism among small and midsize companies jumped during the past six months. Dowling & Partners' V.J. Dowling said that Hurricane Sandy served as a "wake-up call" for P/C insurers to think of all possible scenarios that could result from a disaster.
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