Prices in the insurance marketplace are continuing to decline sharply with few upward trends in any risks according to a market survey of leading brokers conducted by an insurance brokerage association.
The second quarter commercial market survey released by the Washington, D.C.-based Council of Insurance Agents & Brokers shows average commercial rates declined 11.8 percent in the second quarter of this year, virtually identical to the 11.3 percent decrease in the first quarter of this year.
The survey received responses from 121 of the world's largest brokers, who are members of the association. They were asked to rate changes in premium rates over the past three months.
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