Commercial property-casualty insurance rate decreases showed definite signs of leveling off in the fourth quarter of 2008, according to the Council of Insurance Agents & Brokers' Commercial P/C Market Index Survey.
The survey found that result for small, medium and large accounts and for most major lines of commercial business.
CIAB President Ken A. Crerar said, “We see evidence in the fourth quarter that premium rates eased as insurers tried to hold the line on pricing. It's still a competitive market, but we think this may signal the bottom of the soft market, following six years of steady decline.”
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