Risk managers can look forward to a "buyers' market" which is "soft and getting softer," according to David Bradford, editor in chief of Advisen Ltd., which partners with the Risk and Insurance Management Society to produce the RIMS Benchmark Survey on market conditions.
"I think we've got a ways to go. I don't see it bottoming out anytime soon," he added.
From a risk management standpoint, he said, it makes sense to lower retentions and increase the amount of insurance being purchased.
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