While nobody expects the soft market for commercial lines property/casualty insurance to continue ad infinitum, rising premiums will likely remain elusive as the economic malaise dampens demand for insurance.
A recent benchmark survey, reveals that average renewal premiums for commercial lines property/casualty insurance were largely unchanged during the fourth quarter of 2010, a turn in the market is not imminent, says Dave Bradford, EVP at New York-based Advisen Ltd. and the editor-in-chief of the survey. The RIMS Benchmark Survey was released by The Risk Management Society (RIMS) and conducted by Advisen, a provider of commercial lines solutions.
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