Commercial property/casualty insurance premiums continued to decline significantly during the third quarter of this year, with two-thirds of all large and medium accounts experiencing drops of up to 20 percent and an additional 11 percent of large accounts seeing premiums down between 20-30 percent.
According to the third quarter Commercial Market Index Survey released today by The Council of Insurance Agents & Brokers, small accounts also saw premiums decrease in the last quarter but not to the extent of medium and large accounts. The survey showed premiums for 25 percent of small accounts remained unchanged, while 34 percent dropped 1-10 percent, and 11 percent declined 10-20 percent from the previous quarter.
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