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CIAB Survey Sees Prices Moderating

The Council of Insurance Agents & Brokers quarterly market report indicates a return to competitive pricing for some commercial lines in the third quarter, along with flattening or decreasing premiums for commercial property coverage.

The survey of 132 of the nations largest brokers indicates that premium rates rose between 1 and 10 percent for more than 40 percent of account renewals during the three months covering July 1 to Sept. 30.Forty-four percent of small accounts, defined as those with commission and fees of less than $25,000, saw increases between 1 and 10 percent. Forty-eight percent of medium-sized accountswith commission and fees between $25,000 to $100,000–were also in this range; and 41 percent of large accounts fell in the 1-to-10 percent growth range. Large accounts are those with over $100,000 in commission and fees.

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