Third quarter saw nearly 6% decline in P/C rates, survey finds
Property/casualty rates in the third quarter slumped by an average of almost 6% as a result of soft market conditions, according to a survey by the Council of Insurance Agents & Brokers. The decline is higher than the 5% decrease during the second quarter, the poll found. "Suppressed demand and appetite for business continued to drive competitive pricing in the market during the third quarter," CIAB President Ken A. Crerar said.
Business Insurance | 10/28
This story published in PCI SmartBrief on 10/29/2009
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