According to the most recent survey by the Council of Insurance Agents and Brokers (CIAB), the commercial property and casualty (P&C) market continued to decline in the first quarter of 2015.
Small, medium and large accounts fell 2.3%, on average, compared with 0.7% in the fourth quarter of 2014. Large accounts—defined as accounts generating greater than $100,000 in annual commissions and fees—saw their pricing drop by 3.7%. Medium-sized accounts—those with annual commissions and fees between $25,000 and $100,000—were down 2.7%, while small accounts—those with less than $25,000 in annual commissions and fees—remained “relatively flat,” the survey found.
Relatively calm catastrophe season helped push commercial property pricing down
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
