Midyear poll reveals easier commercial renewals.Commercial insurance buyers report that renewals have grown easier in recent months and anticipate premiums for some coverages will drop by year's end, 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. a new Prudential Prudential is the name of two different companies and buildings named after them: Companies:
According to the mid- mid- pref. Middle: midbrain. 2004 Commercial Insurance Buyers' Survey, which polled 100 risk managers on the state of the market based on their experiences with midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. renewals, 39% of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. said the renewal process was "less challenging" than a year ago. That response contrasts with only 19% of risk managers who said the same of January renewals in Prudential Equity's last buyers' survey. In addition, 29% of risk managers said policy terms and conditions were less restrictive than a year ago, compared with only 9% in early 2004. While three-quarters of the risk managers surveyed said they expected the hard market to last at least through 2005, Prudential Equity analyst Jay Gelb said his analysis of median cumulative price increases from 2000 through 2004 suggests a return to a soft market in 2005. For the full year 2004, Prudential Equity now expects overall pricing to be down 3%--with flat pricing in casualty lines and property lines down 9%. |
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