Premiums on most types of business insurance were slightly lower in the second quarter, as the recession prevented insurers from raising rates to make up for their poor financial performance last year.

Premiums on renewals of general liability policies declined 1.1% in the second quarter, according to a survey from the Risk and Insurance Management Society and Advisen, while property premiums were off less than 1% and workers comp was down 2.8%. Premiums for directors and officers (D&O) insurance were up 2.9%, but that change was boosted by the premiums paid by litigation-prone financial firms; companies outside the financial sector saw D&O premiums fall an average 4.1%. A separate survey by the Council of Insurance Agents and Brokers showed rates for property and casualty coverage declining an average 4.9% during the second quarter.