Average premiums for all major commercial lines of insurance continued to fall in the second quarter, according to the RIMS Benchmark Survey released today.
And, "it is still very much a buyer's market, and should remain so, at least through 2008," according to officials at Advisen, which produces the survey for the Risk and Insurance Management Society.
The 6.1 percent decrease in premiums for property insurance essentially repeated first-quarter price decreases for renewals, even though forecasters now predict a severe hurricane, Advisen officials said.
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