Our industry publications track rate triends and the article we received the other day indicates that the reductions we have been seeing over the last few years have been slowing – significantly.
“A slow moderation in rate decreases continues as insurers evaluate their 2008 results and the impact of a slowing economy in 2009,” said Richard Kerr, founder and chief executive officer of MarketScout. “Rate increases are merited based upon 2008 underwriting results and the reduction in premium income due to lower exposures such as payrolls and gross receipts.”
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