Regardless of the 2% increase in average TCOR, the RIMS study reports 2018 was a profitable year for the P&C industry. (Photo: Shutterstock)

Businesses and organizations paid nearly 2% more in 2018 than they did in 2017 to cover total cost of risk (TCOR), the 2019 Risk & Insurance Management Society (RIMS) Benchmark Survey found. This reverses a five-year trend of decreases in average TCOR per $1,000 in revenue.

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