The cost of insurance coverage is continuing to decline, say risk managers, as they find that increased competition among insurance brokers is helping to control their costs.
In the 2008 Risk and Insurance Management Society Inc. Benchmark Survey, conducted by the consulting firm Advisen, risk managers say the total cost of risk per $1,000 of revenue, on average, fell 12 percent in 2007 from the previous year.
However, these results were not evenly distributed throughout the industry, and depending upon the line of business, the results could range from a slight increase to savings of 30 percent or more, according to the poll.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
