Firms' total cost of risk increased to an average of $10.90 per $1,000 of revenue last year, 2% higher than in 2012, according to a report from Advisen and the Risk and Insurance Management Society. The higher figure represented a third consecutive year of increases. But the report said that "[c]apacity is more than adequate in most lines, and competition [ensures] that policy terms and conditions are generally advantageous."

Related Summaries