Property insurance was the only line of business that increased in the third quarter, representing a continuation of trends in the past two quarters, according to the Risk & Insurance Management Society (RIMS) Benchmark Survey.
The survey is a comprehensive industry study of current policy renewal prices as reported by corporate risk managers.
Property insurance increased in the third quarter by 1.7 percent. Although the rise in property insurance premiums seems modest, it masked the sharp increases that continue to affect businesses with properties in regions exposed to hurricanes and earthquakes, the survey found. Conversely, property owners in regions not prone to natural catastrophes continue to see falling premiums.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
