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News round-up - US P&C market premiums down, claims CIAB survey.
(From Reinsurance)
More than 80% of small and large commercial property/casualty accounts and 90% of medium accounts found their insurance premiums either stable or down by as much as 20% during the fourth quarter of 2004, according to survey data released by the Council of Insurance Agents & Brokers (CIAB).
CIAB represents the top tier of commercial insurance brokers who write more than 80% of all commercial property/casualty premiums and administer billions of dollars of employee-benefit accounts annually.
CIAB's quarterly Commercial Market Index Survey showed a significant softening in pricing during the period between 1 October and 31 December 2004.
The survey showed that 30% of small accounts experienced no change in premium rates, while 42% had premiums down 1-10%, and 12% dropped 10%-20%. The average small account premium declined by 4%.
Although 12% of medium accounts ...
- Fourth Quarter Survey Shows Significant Softening in Commercial P/C Market.
- Press release article from: Business Wire January 24, 2005 700+ words
...20 percent. The average small account premium declined by 4 percent. Although 12 percent of medium accounts reported no change in premiums...percent. The average medium account premium declined by 7 percent. Large...
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- Press release article from: Business Wire July 20, 2005 700+ words
...more dramatic, with 41 percent of medium accounts down 1-10 percent, and 44 percent...rates; the average mid-sized account premium was down 11.4 percent; and the average large account premium decreased by 12 percent. The same...
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- Press release article from: Business Wire October 20, 2004 700+ words
...quarter of this year, with two-thirds of all large and medium accounts experiencing drops of up to 20 percent and an additional...8.3 percent in the third quarter; the average medium account premium was down 6.4 percent; and the average small account was...
- Commercial Property/Casualty Market Continues to Ease During First Quarter of...
- Press release article from: Business Wire April 19, 2004 700+ words
...accounts was about 3 percent. For medium accounts, ranging from $25,000 to $100...percent. Forty-two percent of the medium accounts had premium increases in the 1-10...The average rate of increase for medium accounts was 1 percent. Large accounts had...
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- Press release article from: PR Newswire October 19, 2006 700+ words
...The Lehman analysis showed the average small commercial account premium down 3.4 percent, the average medium account premium down 5.1 percent, and the average large account premium down 7.3 percent during the third quarter. As premium...
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- Press release article from: PR Newswire May 28, 2003 700+ words
...of small accounts, 44 percent of medium accounts and 38 percent of large accounts experienced...of small accounts, 28 percent of medium accounts and 18 percent of large accounts saw...than 10 percent. Eleven percent of medium accounts (with 51 to 500 employees) and 14...
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- Magazine article from: Business Insurance HOFMANN, MARK A. March 6, 2000 700+ words
...decreases. Responding CIAB members reported that, among medium accounts -- those generating between $25,000 and $100,000...larger increases. Prices had decreased for only 7% of medium accounts. Market conditions, however, appeared to favor larger...
- Group Medical Plan Costs Continue to Climb for All Sizes of Employers, the...
- Press release article from: Business Wire May 31, 2006 700+ words
...small accounts (50 or fewer employees), 80 percent of medium accounts (51 to 500 employees) and 70 percent of large accounts...additional 17 percent of small accounts and 8 percent of medium accounts up for renewal had rate increases of between 16 and 20 percent...