Catastrophe property risks are witnessing severe hardening while the rest of the lines experience continued price softening, a quarterly survey from a broker's group said.
The Council of Insurance Agents & Brokers, based in Washington, D.C., released its quarterly survey of brokers, which found that, overall, the insurance market remains soft, but respondents said catastrophe-prone risks are witnessing increases in the triple digits.
The survey of 107 brokers found that 51 percent of small accounts witnessed decreases ranging from 1-to-20 percent.
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