NU Online News Service, Dec. 2, 12:05 p.m. EST
More than half of all property renewals experienced increases during the fourth quarter as more accounts are finding it difficult to obtain savings on their insurance placements, according to a report released by insurance broker Marsh.
In its "Marsh Insights: Benchmarking Trends U.S. Property Rates, Fourth Quarter (To Date)," the broker says renewal rates increased an average of nearly 2 percent for the fourth quarter. Catastrophe-exposed property clients saw their rates increase an average of close to 7 percent, says Marsh.
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