Insurance buyers will see a mix of rising and falling commercial property/casualty rates in 2013, according to the "2013 Marketplace Realities” report from Willis Group Holdings, the global insurance broker. The report is intended as a guide for North American insurance buyers preparing for November, December and January insurance program renewals.
“The key to success in a micro world is specialization, customization and individualization,” said Joe Plumeri, Willis Group Chairman and CEO, adding that due to the lack of strong macro trends, individual insurance buyers will be more impacted by specific industry, sub-industry and geographic micro trends. “Buyers are under the same pressure to protect themselves, their capital and assets by spending as little of that capital as they can,” he said. “There are still big savings to be had, even in a market that is firming after years of soft rates. We just have to work a little harder and look a little deeper to find them.”
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