Although commercial insurers continued their six-year trend by cutting rates during the fourth quarter of 2008, a pair of surveys suggests a reversal may soon be underway as the global economic crisis increases pressure on carriers to raise premiums
Analysis of a survey by the Risk and Insurance Management Society echoed conclusions from a separate study by the Council of Insurance Agents & Brokers.
Rates for property, general liability, and directors and officers insurance all decreased at a materially slower pace than in recent quarters, according to the "RIMS Benchmark Survey" of policy renewal prices reported by North American corporate risk managers.
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