Property Insurance's Uneven Price Blip

Topics:
Insurance
Tags:
Business Operations,
CFO Publishing Corp.,
Corporate Insurance,
Insurance,
Property Insurance
Source:
CFO Publishing

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Overview: After two years of cut-rate prices, in 2005 hurricanes inflicted an estimated $58 billion in losses on the insurance industry and began prompting carriers to charge a good deal more for property insurance. According to a survey, in the fourth quarter of 2005, commercial property-insurance buyers faced a median price increase of 8 percent, and at least one buyer was slapped with a 33 percent hike. The survey - sponsored by the Risk and Insurance Management Society and conducted by research firm Advisen - was based on information provided by risk managers on 42,000 corporate insurance programs.

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Format: HTML | Date: Feb 2006

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