US rates continue to slide
US property and casualty premiums declined by an average of 6% in June, according to analysis group MarketScout.
The insurance exchange says rate reductions are especially prevalent in the areas of workers’ compensation and general liability.
There are signs that US premium reductions are slowing, with the average discount well short of the 11% mean recorded in June of last year.
The latest Risk & Insurance Management Society Benchmark Survey concurs with those findings, noting modest reductions across most classes.
Directors’ and officers’ premiums were the one class to buck the trend, increasing by an average of 2.9% due to increased risk among financial services companies.
The insurance exchange says rate reductions are especially prevalent in the areas of workers’ compensation and general liability.
There are signs that US premium reductions are slowing, with the average discount well short of the 11% mean recorded in June of last year.
The latest Risk & Insurance Management Society Benchmark Survey concurs with those findings, noting modest reductions across most classes.
Directors’ and officers’ premiums were the one class to buck the trend, increasing by an average of 2.9% due to increased risk among financial services companies.