Aggressive pricing for large, name-brand accounts has waned as U.S. commercial rates jumped 5 percent in March compared to the same month a year ago, says MarketScout.
“Other than the cachet or bragging rights, there are few sound underwriting reasons for aggressively pricing large accounts,” says Richard Kerr, CEO of the Dallas-based electronic insurance exchange.
“Risk is risk, and exposure is exposure,” he adds. “In March, underwriters more frequently assessed an appropriate premium for large accounts.”
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