The largest businesses in the United States were more likely to increase their liability insurance levels through the beginning of 2006, as medium and small companies dropped theirs, according to a report released by a major insurance brokerage firm.
According to a report released by insurance broker Marsh, on average, businesses in the United States maintained their level of liability insurance, as costs for coverage dropped by an average of 5.8 percent over a 12 month period. But large companies with revenues exceeding $10 billion increased their coverage limits by almost 15 percent.
The report looked at 7,296 businesses within Marsh's Casualty Central database, examining their excess liability insurance purchases through the first quarter of 2006.
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