NU Online News Service, May 3, 3:12 p.m. EDT
A near-term pricing shift for commercial lines is unlikely, and recent deterioration in underwriting results has led to a decline in premium revenues unseen since the 1930s, according to a recent Fitch Ratings report.
The report, “Commercial Lines Underwriting Results,” found weakening underwriting results through 2010. “The commercial-lines industry aggregate accident-year combined ratio for 2010 was 103.8,” the report notes, “which corresponds with an estimated return on surplus of approximately 4.5 percent.”
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