Three of the four insurance lines tracked by the Risk & Insurance Management Society's Benchmark Survey showed little change in the second quarter, suggesting the steady decline in insurance premiums seen in recent years may be nearing an end, RIMs says.

According to the survey, which is conducted by Advisen, the cost of renewing general liability, property and workers compensation policies all declined by less than 1% in the second quarter, while the cost of directors and officers liability coverage fell 4.5%.

Separately, the quarterly survey from the Council of Insurance Agents & Brokers released late last month showed a mix of price changes, with small accounts reporting average rate increases of 1% in the second quarter and large accounts reporting declines of 1.3%.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.