Commercial insurance premiums were flat to slightly lower in the second quarter of this year compared to the prior-year period, according to the RIMS Benchmark Survey.
In the second quarter, directors and officers premium dropped 3.5 percent, the largest decrease of any line of business tracked by the survey and due largely to rate cuts for small- to medium-sized businesses.
Average property insurance premiums were largely unchanged, although the average masks significant discrepancies between policies in hurricane-exposed regions and policies in other parts of the country, the survey noted.
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