Property-catastrophe risks are witnessing severe hardening while the rest of the commercial lines market experiences continued price softening, a quarterly survey by a brokers' group found.
The survey by the Council of Insurance Agents & Brokers in Washington, D.C., found that, overall, the insurance market remains soft, but respondents said catastrophe-prone risks are seeing triple-digit price hikes.
Overall, for all lines combined, the survey of 107 brokers found that 51 percent of small accounts saw decreases ranging from 1-to-20 percent.
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