Middletown, CT (PRWEB) October 16, 2009
Just released in MarketStance's v9-0 data - Small commercial written premium shrinks nearly twice as fast as large account written premium from 2007-2008. Adjusted for each segment's changing exposure base, MarketStance estimates small commercial written premium declined 30 percent faster than large account written premium over the same period, highlighting the fact that slowly growing core exposures were no match for price competition in commercial lines.
The soft market shows little sign of hardening any time soon from either an exposure or pricing perspective. Despite claims of economic stabilization, carriers should expect little or no help from exposure growth in the next couple years. MarketStance provides an array of data, analytics and tools to help companies grow in this complex environment. As construction declined precipitously in the first full year of the recession, commercial auto, inland marine, and workers compensation premiums declined 5-11 percent in small commercial, representing a large part of the decline reflected in MarketStance data.
Despite the fact that large accounts eked out nominal sales gains over the 2007-2008 period, MarketStance data suggests that competitive pricing practices hit carriers even harder than small commercial.
For more information please contact Mike Eagan at (860) 704-6382.
MarketStance is an analytical consulting firm servicing the insurance, financial services and business to business marketplaces. Our unique, bottom-up approach to data modeling, economic forecasting and interactive reporting has made MarketStance an insurance industry staple in areas such as: Market Intelligence, Strategic Planning, Distribution Management, and Underwriting. MarketStance is headquarted in Middletown, CT. Visit us online at http://www.marketstance.com