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October 01, 2004

Business insurance premiums drop around country

Business insurers are learning a hard math lesson: Four hurricanes plus three years of rate increases do not add up to more rate increases. Insurance brokers are asking for premium cuts -- and getting them. In the second quarter of this year, 81 percent of commercial property policies renewed for less, and 31 percent of commercial auto policies dropped, according to the Insurance Information Institute, a trade group.

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Posted by Tom Troceen