Last year's hurricane losses have not resulted in substantialinsurance price increases for much of the country, but thesituation for coastal properties is a different story, a recentproducer group survey revealed.
Most of the commercial property-casualty marketplace has notseen the widespread price increases predicted by some analysts inthe wake of Hurricanes Katrina, Rita and Wilma, according to theCouncil of Insurance Agents and Brokers' Commercial InsuranceMarket Index Survey for the fourth quarter of 2005.
For small accounts up for renewal (those totaling less than$25,000 in broker commission and fees), 65 percent of respondentssaid premiums either remained stable or dropped by as much as 10percent. The same held true for 60 percent of medium-size accounts(those between $25,000 and $100,000 in commissions and fees) and 52percent of larger accounts.
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