Marsh said customers are continuing to see the benefits of asoft market with flat to reduced renewal rates over the past month,but the rate of reduction appears to be tapering off.
In a panel discussion titled "New Reality of Risk," broadcastover the Web, George Biancardi, head of financial institutionpractice for Marsh and McLennan Companies, said an analysis ofrenewals during the period Oct. 2 to Nov. 1 found that 61 percentof Marsh's accounts experienced either no increase or a slightreduction.
The average reduction for its clients was 1.2 percent, comparedto 5.4 percent reduction in prior months. For the same period lastyear, clients saw a 13 percent reduction in rates. In 2004, hecontinued, rate reductions averaged 15 percent.
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