Commercial property risk segment, large insurance accounts witness rate decline

U.S.-based electronic insurance distributor and underwriter MarketScout Corp. has said that there are continuing signs that larger commercial lines and property risks are affected by excess traditional reinsurance capital and the expansion of insurance-linked securities markets, Artemis.bm reported. The commercial property risk segment of the insurance market saw rates decline by 1% in the first quarter. The large account segment of commercial insurance also declined 1% for accounts above $250,000 and by 2% for accounts above $1 million.

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