FOR IMMEDIATE RELEASE
Market Slide Slowed in First Quarter 2011, According to The Council of Insurance Agents & Brokers’ Commercial P&C Market Survey
WASHINGTON, D.C. – Commercial property/casualty pricing continued to decline in the first quarter of 2011, although at a slower pace than the previous quarter. There were signs that the market may be flattening and modestly easing upward in some areas, according to The Council of Insurance Agents & Brokers First Quarter Commercial P/C Market Index Survey. Overall, the rate of decline for commercial lines renewal pricing on average was 2.9 percent in the first quarter, compared with 5.4 percent in the fourth quarter of 2010.
“It’s too early to tell if the leveling off and modest price increases were a result of the fallout from the recent Japan disaster and other catastrophes earlier in the year, or if the market is reacting to broader market conditions,” said Ken A. Crerar, president of The Council.
P&C Market Survey Contact:
Zach West
Senior Content Specialist/Copy Chief, Leader’s Edge
