Commercial Price Rebound In Q1?
A new survey of 1,400 corporate insurance buyers reveals signs that soft pricing for commercial insurance is nearing an end, while a separate study of agents and brokers found prices still falling heavily during the 2005 first quarter.
According to the Risk and Insurance Management Society Benchmark Survey, produced by research firm Advisen Ltd. and released last week, 2004 represented the first 12-month-long soft market for commercial insurance since 1998, triggered by steadily growing capacity and the resulting heightened competition. But that trend may soon go into a reverse course, the survey forecast.
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