General liability insurance should see a small increase in premium rates by next year as profits start declining, according to a study by Hartford, Conn.-based Conning Research and Consulting.
The firm said the GL commercial line, that involves about $58 billion in direct premiums written, has been profitable with industry-wide combined ratios below 100 for the past two years, but warned this positive underwriting performance is unlikely to continue.
Conning said the general liability it studied consists of "other liability" and products liability--with "other" consisting of commercial general liability policies and professional liability, as well as including commercial umbrella, personal umbrella, and excess liability policies.
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