Commercial insurance buyers say the cost of property insurance fell 8.8 percent in the fourth quarter of 2003 over the year-earlier period

Risk & Insurance, March, 2004

[check] Commercial insurance buyers say the cost of property insurance fell 8.8 percent in the fourth quarter of 2003 over the year-earlier period. It was the first decline in premium prices in any major line of commercial insurance in nearly four years, according to a survey by the Risk and Insurance Management Society Inc.

Risk managers also said that, while still experiencing some price inflation, other commercial insurance products' price increases were either significantly lower than in the third quarter or that those prices remained relatively fiat, according to fourth quarter renewal information summarized by Advisen Ltd. for the Risk and Insurance Management Society (RIMS).

COPYRIGHT 2004 Axon Group
COPYRIGHT 2008 Gale, Cengage Learning

 

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