Insurance prices continued their downward slide with most insurance brokers reporting no dramatic changes over the past three months, according to a broker association survey.
The Council of Insurance Agents & Brokers' fourth-quarter "Commercial Property-Casualty Market Survey" includes anecdotal evidence suggesting some carriers are beginning to abandon underwriting discipline in pursuit of market share.
CIAB said an analysis of the data by Lehman Brothers Equity Research found the average rate of decline to be 12 percent, slightly improved from the negative 13.3 percent experienced in the third quarter of 2007.
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