Rate increases stifled by 'fragile' global economy
Commercial rates remained flat during the first quarter of 2010, according to global professional services company Towers Watson.
The organisation said that "a fragile global economy, excess capacity in virtually every line of commercial insurance and last year's below-average catastrophic losses" had resulted in there being little or no price rises after nearly five years of steady decreases.
The global Commercial Lines Insurance Pricing Survey compared prices charged on policies underwritten by 37 participating insurance companies, representing about 20% of the global commercial insurance market.
"Market conditions are
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