Commercial insurance rates are dropping dramatically and will continue to do so in 2015, according to a macro insurance report released this week by Willis Group Holdings.
Across the board, rates will drop due to a softening market where insurance groups can now compete with each other based purely on price, read the report.
“For insurance buyers and risk professionals, now is the time to think about the strategic possibilities as renewals approach,” said Chief Placement Officer of Willis North America, Matt Keeping, in a press release.
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