Marsh Study Sees Liability Limits Drop
For the first time in years, a study shows commercial policyholders are purchasing lower liability limits in the face of escalating premiums and their own budgetary constraints, according to one of the authors of the report.
An annual survey published by insurance broker Marsh, a member of New York City-based Marsh and McLennan Companies, asked more than 2,600 U.S. companies to evaluate their insurance buying trends. The results, published in the “2001 Limits of Liability Report,” found that commercial buyers dropped their limits by 6 percent over last year, going from an average of $101.8 million to $95.7 million in 2001.
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