As premiums fell an average of 2 percent in April, “large” accounts saw cuts twice that size, while “jumbo” insureds enjoyed 7 percent rate reductions, according to the latest “Market Barometer.”
This finding supports the trend uncovered in National Underwriter's Spring 2005 “State Of The Market Survey” (pages 12-22), which found risk managers enjoying a softer market than smaller buyers.
“The trend toward a soft market is continuing under a slow, methodic pace,” said Richard Kerr, chairman and chief executive officer of Dallas-based MarketScout.com, which bases its monthly “barometer” on data collected from agents participating in its online market, along with surveys by The National Alliance for Education and Research.
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