RIMS: Rates flat in Q4

Via Business Insurance.

D&O rates fell 4.6% overall, 5.1% for large companies and 2.4% for small companies.

GL, property and workers comp policies renewed at no change.

But these are renewals at already low rates:

“We have seen more carriers exercising underwriting discipline—walking away from business that does not meet their pricing targets—but it is still a very competitive market,” Robert Cartwright, loss prevention manager for Bridgestone Americas Holding Inc. in Exton, Pa., and a member of the RIMS board of directors, said in the statement.

He said that while premiums have stabilized in recent quarters, they still lag 2003-2004. “In some lines, they are back to where they were during the soft market of the 1990s. It remains a buyer’s market,” Mr. Cartwright said.

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