NU Online News Service, July 12, 3:40 p.m. EDT
Premium pricing continued to show downward pressure for the first quarter of 2010 for commercial and large accounts, according to a report released by insurance broker Aon.
The Chicago-based insurance broker said that in three separate segments--property, casualty and directors and officers liability coverage--pricing was in decline for commercial and large account segments with little evidence of a turnaround anytime soon.
Aon's U.S. Quarterly Market Overview said for property risks, pricing was down more than 4 percent and downward pressure is expected to continue. Insureds' purchase of limits remained unchanged as did deductibles and retentions, and that buying pattern is not expected to change.
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