The longstanding sag in commercial property/casualty pricing may be ebbing, according to The Council of Insurance Agents & Brokers First Quarter Commercial P/C Market Index Survey.
Although prices declined by 2.9% in the first quarter of 2011, this compares favorably to 5.4% decline recorded in the previous quarter, CIAB notes. “It’s too early to tell if the leveling off and modest price increases were a result of the fallout from the recent Japan disaster and other catastrophes earlier in the year, or if the market is reacting to broader market conditions,” CIAB President Ken Crerar said in a statement.
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