Buyer’s Market to Continue

The John Liner Letter published a report recently on the state of the insurance marketplace. It predicted that the soft (read “buyer’s”) market will continue for several more months and perhaps longer, “because insurers have too much supply chasing too little demand.” The article cites unused capacity in the market. (“The Standard,” March 5, 2010)

Five to ten percent premium reductions at renewal seem to be the norm. I am seeing higher reductions in the renewals I work on for clients.

Coverage terms continue to be liberal too.