A survey of underwriters and buyers shows that European customers are getting more insurance for less money, but insurers are becoming increasingly worried that price cutting may hurt profitability.
The report, released by the London office of Chicago-based Aon insurance brokerage, surveyed 140 property-casualty insurers and 104 insurance buyers from a cross section of industries during July, 2006.
Among the survey's findings, in a very competitive market, where prices are at a three-to-four-year low, insurers are offering broad covers to avoid rate reductions and keep ahead of their competitors.
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