An insurance brokers' group said rates appear to be heading even lower with the release of a quarterly survey that indicates carriers are aggressively chasing markets and dropping prices to get business.
In the release of its latest survey results on commercial property-casualty premiums, Washington, D.C.-based The Council of Insurance Agents & Brokers said the results point to dramatic premium drops in some parts of the United States.
Noting comments the CIAB received from brokers, the members said carriers are going to great lengths to grow market share, with increased competition and indicators that companies are loosening underwriting standards and pricing aggressively.
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