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