Premiums on most types of business insurance were slightly lowerin the second quarter, as the recession prevented insurers fromraising rates to make up for their poor financial performance lastyear.

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

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