The P&C insurance market is expected to continue softening after a relatively stable 2014, according to a report released by Marsh on Monday.
Those with commercial property insurance can expect to see competition for their policy this year (barring, of course, any major catastrophes), with rate reductions of anywhere from 5% to 15%. The report also noted that catastrophe-exposed clients can expected rate decreases of up to 15% this year, depending on their risk profile.
The casualty market, after a stable 2014 which saw a very slight increase in policies written, looks to soften in 2015. And the next 12 months look to be the first time since 2006 that workers' comp might see profits, according to the report.
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