A survey on four commercial lines suggests the soft market may be bottoming out, according to the Risk and Insurance Management Society Inc. (RIMS).
The RIMS Benchmark Survey tracked the lines of business—general liability, property, workers' compensation and directors and officers insurance—during the 2011 second quarter. The survey indicates significant tightening in the price declines that have defined the soft market.
RIMS, in conjunction with the consulting firm Advisen, says during the second quarter general liability, property and workers' comp all fell by less than 1 percent on average. D&O liability policies renewed 4.5 percent lower.
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