Commercial insurance pricing may decline in coming months, but disciplined management of capacity will continue for a while, executives speaking at a recent industry conference said, pointing to concerns about social inflation as a factor.

Speaking at the 38th Annual S&P Insurance Conference in June, Markel Corporation’s Co-Chief Executive Officer Richie Whitt was the first to respond to a question about capacity posed by Moderator Brian Suozzo, a director of P/C Insurance for S&P Global Ratings. During a discussion of market responses to macroeconomic impacts on the insurance business, Suozzo suggested that disciplined limits management had been a catalyst to the harder market conditions over the last 24 months, and he sought the views of a CEO panel about limits expansion as pricing moderates and investment yields improve.