NU Online News Service, June 3, 11:25 a.m. EDT
While the insurance market for transportation risks is still soft, those in the industry are saying it has begun to stabilize and the tide of new entrants flooding into the market is beginning to slow, according to NIP Group’s first-quarter Transportation Insurance Pricing Survey (TIPS).
“Based on the past quarter’s TIPS results, it seems that survey participants are optimistic that rates have stabilized and are starting to slowly move higher,” says Richard Augustyn, CEO of Woodbridge, N.J.-based wholesale broker and program manager NIP Group.
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