The Risk and Insurance Management Society (RIMS) has found fourth-quarter 2010 renewal premiums for commercial property and casualty insurance flat compared to the corresponding period last year.

The RIMS Benchmark Survey says directors’ and officers’ liability insurance (D&O) was the only sector in which premiums fell, down 4.6% in the quarter.

The survey found large companies with revenues of more than $US1 billion ($1 billion) experienced larger drops in D&O premiums, down 5.1%, than smaller companies where premiums fell 2.4%.

General liability, property and workers’ compensation policies renewed during the final quarter of last year came with “essentially no change” in premiums.

This compares to the 2009 fourth quarter where general liability and workers’ compensation premiums dropped at least 5%.

The RIMS survey author, David Bradford, says the fourth-quarter results probably do not signal a hardening market.

“After seven years of falling premiums, I am sure underwriters welcome signs that the soft market will eventually bottom out,” he said.

“The fourth quarter, however, was probably a temporary lull rather than the harbinger of higher rates anytime soon.”