Discounted rates of up to 10 percent were available for crime, professional indemnity, and directors and officers insurance in the second quarter of 2006, according to a new survey by an insurance broker.
The majority of London Market underwriters polled in the Willis Index for Financial Institutions also suggested that terms for some markets in the next three months may become slightly less favorable to insureds.
In the Financial Institutions Index, Willis speculates that the reason why the market may become less favorable is that insurers could seek to increase rates anticipating the cost of substantial settlements for the large outstanding claims the market currently faces.
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