Steady erosion of the commercial insurance industry's pricing continued in the third quarter led by liability, while the property segment continued "nudging upwards," according to the RIMS Benchmark Survey.
The findings based on reports from corporate risk managers provide a comprehensive look at current policy renewal prices.
Increases in property coverage were driven substantially by companies in earthquake-exposed regions, according to the study. Average property premiums rose 2.1 percent in the third quarter of 2007, according to the Risk and Insurance Management Society.
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