A 2006 fourth-quarter market survey finds commercial insurance premiums continuing to decline with an overall average drop of 9.6 percent.
The Council of Insurance Agents & Brokers insurers, which did the poll, found insurers willing to lower prices and place fewer restrictions on coverage to get new business with the only high rates in catastrophe-exposed areas.
Commercial property insurance, which had been spiking higher last year, began dropping off in the second quarter joining the already declining lines in the commercial sector including auto, workers' compensation, general liability and umbrella.
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.
