While it may be premature to call a bottom, the latest Benchmark Survey from the Risk and Insurance Management Society (RIMS) indicates that rate of decreases in premium slowed during the third quarter.
“Premiums didn’t fall much this past quarter, at least not in a couple of key lines, but the soft market is far from over,” says Dave Bradford, EVP of Advisen Ltd. and editor-in-chief of the Survey. “If insurers avoid large losses this hurricane season, which seems likely at this point, competition may pick up across all lines. There is still too much capacity chasing too little premium.”
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