Brokers Association Says Prices ModerateCommercial property-casualty prices are beginning to moderate andthe insurance market is beginning to stabilize, according to areport released by the Council of Insurance Agents &Brokers.
The Washington, D.C.-based organizations first-quarter 2003Market Index survey found that while brokers are still seeingpremium increases on accounts, the increases are not as dramatic asin the past.
Overall, across all three account categories surveyed (small,medium and large), 66 percent of the accounts saw premium increasesof between 1 and 20 percent. Only 14 percent saw increases ofbetween 20 to 30 percent. Larger increases were at three percent orless.
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