Marsh Study Sees Liability Limits Drop
For the first time in years, a study shows commercialpolicyholders are purchasing lower liability limits in the face ofescalating premiums and their own budgetary constraints, accordingto one of the authors of the report.
An annual survey published by insurance broker Marsh, a memberof New York City-based Marsh and McLennan Companies, asked morethan 2,600 U.S. companies to evaluate their insurance buyingtrends. The results, published in the “2001 Limits of LiabilityReport,” found that commercial buyers dropped their limits by 6percent over last year, going from an average of $101.8 million to$95.7 million in 2001.
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