Commercial Insurance Premiums Reflect Continuation of 2006 Trends.Directors and Officers, Workers' Compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. Premiums Drop; Property Premiums Increase Slightly NEW ORLEANS New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded -- According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the RIMS Benchmark Survey[TM], the first quarter of 2007 reflected a continuation of the same commercial insurance pricing trends reported in 2006. The RIMS Benchmark Survey[TM] is the industry's leading comprehensive survey of current policy renewal prices as reported by corporate risk managers. Directors and Officers (D&O) continues to be a highly competitive line. In the first quarter of 2007, D&O decreased by 7.7 percent and by more than 12 percent in the last two quarters of 2006 combined. Workers' compensation also reflected further rate reductions. In the first quarter, workers' compensation decreased by 3.8 percent, and falling premiums show no sign of abating. Property insurance was the only line of business that increased in the first quarter. Rates reflected an 0.8 percent increase. "A year and a half after Hurricane Katrina  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. , companies with
properties in catastrophe-exposed regions are still seeing premiums
rise, but trends continue to be quite favorable in other regions and
other lines of insurance," says Joseph Restoule, RIMS secretary and
member of the board of directors. "Risk managers are especially
benefiting from steadily falling workers' compensation premiums in
many areas."
"2006 was a banner year for the insurance industry with some insurers reporting record profits. That will encourage companies to compete even more vigorously for business, which is good news for risk managers," says David Bradford David Bradford is the name of:
General liability premiums decreased slightly in the fourth quarter by 0.8 percent. These premiums have been steadily falling at a controlled pace for the past five quarters. About The RIMS Benchmark Survey(TM) The RIMS Benchmark Survey[TM] is produced by Advisen, Ltd., which collects and analyzes the data and provides the technology infrastructure for the survey's online services. Advisen introduced the "Broker Authorization Letter" that enables Risk Managers and buyers of insurance to contribute to the RIMS Benchmark Survey[TM] by designating their broker to provide the client's program details. The letter is available at www.RIMS.org/brokerform or by calling 800.655.6590. Risk management professionals can also contribute by e-mailing current and prior year policy schedules to Benchmark@RIMS.org or by faxing to 212.655.7453. Risk managers who contribute data to the survey can benchmark the structure of their commercial insurance programs, retained loss costs, exposure demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. and Total Cost of Risk (TCOR TCOR The Chronicles of Riddick (movie) TCOR Total Cost of Risk TCOR Twin City Off Road (Minnesota 4x4 club) TCOR Typhoon Condition of Readiness ) against a highly-relevant group of peer companies. Additionally, survey respondents can use software personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. and configured for their needs to view detailed schedules of insurance, programs for current and past years and full-color program tower charts. Both benchmark charts and program charts download into any presentation for senior management. The results of the RIMS Benchmark Survey[TM] are available online or in an annually-published book. Visit www.RIMS.org/benchmark for details. About the Risk and Insurance Management Society Risk and Insurance Management Society, Inc. (RIMS), founded in 1950, is a membership-based industry trade group, representing nearly 4,000 industrial, service, nonprofit, charitable, and governmental entities and serves more than 10,000 risk management professionals around the , Inc The Risk and Insurance Management Society, Inc. (RIMS) is a not-for-profit organization dedicated to advancing the practice of risk management, a professional discipline that protects physical, financial and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . Founded in 1950, RIMS represents nearly 4,000 industrial, service, nonprofit, charitable, and governmental entities. The Society serves nearly 10,000 risk management professionals around the world. For more information, visit www.RIMS.org. About Advisen Advisen Ltd. equals success for insurance professionals, driving growth and profitability through the broadest platform of analytics and information services See Information Systems. . Designed and evolved by risk and insurance experts, and used daily by more than 100,000 professionals, Advisen combines the industry's deepest data sets with proprietary analytics and applications that drive the risk and insurance lifecycle. Advisen is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of with offices in London. For more information, visit www.advisen.com or call 212.897.4800. |
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