A new survey of North American corporate risk managers shows insurers are continuing to renew property-casualty programs at “deeply depressed” rates.

The latest benchmark survey from the Risk Insurance Managers Society has found the global economic recession is keeping such a lid on demand that insurers are finding it nearly impossible to push through rate rises except in a few especially distressed classes of business, despite posting underwriting losses.

Property policies renewed in the third quarter showed essentially no change in average premium.

Directors’ and officers’ liability rates were flat on average, although the financial institution segment saw rises linked to the economic downturn.

The average general liability premium fell 3.7% and the average workers’ compensation rate was down 4.5%, due in part to declining sales and payrolls.

Meanwhile, analysts MarketScout says US property and casualty premiums fell an average 4% in September, but they will begin to rise next year.

The insurance exchange has forecast further moderation in rates following a 5% discount in August.