Corporate risk managers are the beneficiaries of a market with continually falling insurance rates, in the largest quarterly drop since 2005, according to the RIMS Benchmark Survey of policy renewal prices as reported by corporate risk managers.
The momentum at which the market has softened "has been a surprise," David Bradford, editor-in-chief of Advisen, told National Underwriter. "I'm not entirely sure why we saw things surge a little bit in this quarter."
Mr. Bradford said the insurance industry "continues to be overcapitalized, continues to post profits, and surplus continues to accumulate--all factors that contribute to the competitiveness of the market."
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