NU Online News Service, Oct. 15, 3:50 p.m. EDT
Marsh said it expects further commercial insurance rate decreases in 2011 as intense competition and overabundance of capacity continue to define the marketplace.
In a new report, Marsh said the market is likely to remain stable into 2011 "barring an unforeseen market-changing event."
As an example of the tough conditions, the Marsh report said that despite an estimated $18 billion in worldwide insured catastrophe losses in the first two quarters of 2010, property rates for domestic and global businesses purchasing insurance in the U.S. typically declined 5 to 10 percent in the third quarter.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 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.
