Soft Commercial Insurance Market Conditions Expected to Persist in Fourth Quarter of 2010
Published: November 19, 2010 | Country: United States
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Soft commercial insurance market conditions are expected to persist through the fourth quarter of 2010, according to preliminary rate information published last week by Marsh.
Marsh clients renewing their programs in the fourth quarter have been experiencing average rate reductions across all major lines of business, compared to the fourth quarter of 2009.
“Marsh’s preliminary data indicates that rates are continuing to trend downward, which is good news for our clients,” said Dean Klisura, U.S. Risk Practices Leader, Marsh. “Barring a market-changing event, we do not expect this trend to reverse in the near future.”
Marsh’s fourth quarter rate update is based on data from Marsh’s Global Benchmarking Portal and reflects transactions brokered by Marsh through early November 2010. Marsh’s benchmarking data provides clients with the most recent and relevant information available in the insurance brokerage industry to make informed risk financing and budgeting decisions.