Last year's hurricane losses have not resulted in substantial insurance price increases for much of the country, but the situation for coastal properties is a different story, a recent producer group survey revealed.
Most of the commercial property-casualty marketplace has not seen the widespread price increases predicted by some analysts in the wake of Hurricanes Katrina, Rita and Wilma, according to the Council of Insurance Agents and Brokers' Commercial Insurance Market Index Survey for the fourth quarter of 2005.
For small accounts up for renewal (those totaling less than $25,000 in broker commission and fees), 65 percent of respondents said premiums either remained stable or dropped by as much as 10 percent. The same held true for 60 percent of medium-size accounts (those between $25,000 and $100,000 in commissions and fees) and 52 percent of larger accounts.
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