2009 RIMS Benchmark Survey

6/19/2009

Economic turmoil and the second worst year on record for insured natural catastrophe losses did not deter falling commercial insurance prices in 2008, according to the 2009 RIMS Benchmark Survey™ book, the annual guide to the cost of risk for commercial insureds in North America. Lower average premiums in almost every line of business contributed to a 9.4 percent drop in average total cost of risk (TCOR) per $1,000 of revenue.
The 2009 RIMS Benchmark Survey™ book enables risk managers to compare their TCOR to similar organizations and benchmark their insurance program limits and retentions based on data collected on more than 1,300 companies in the U.S. and Canada. The book is the annual print summary of the online RIMS Benchmark Survey™ that is updated daily. Data for the book was compiled and analyzed by Advisen Ltd. for the Risk and Insurance Management Society, Inc. (RIMS). The book is available for a fee of $750 and the online program for a fee of $2,500. Purchase orders are available at https://advmail.advisen.com/exchweb/bin/redir.asp?URL=http://www.RIMS.org/book. RIMS members and survey data contributors receive special discounts.

6/19/2009 - National Underwriter, circulation of 30,000
RIMS Says 2008 Cost of Risk Dropped 9.4 percent
http://www.property-casualty.com/News/2009/6/Pages/RIMS-Says-2008-Cost-Of-Risk-Dropped-94-Percent.aspx

AIRMIC
Total cost of risk declines – RIMS Survey
http://www.airmic.com/en/Library/Newsletters/AIRMIC_News/2008/may-2008/total-cost-of-risk-declines--rims-survey.cfm

6/19/2009 - Insurance Journal
Lower Premiums Cut Total Cost of Risk for Commercial Insureds by 9.4%
http://www.insurancejournal.com/news/national/2009/06/19/101557.htm

6/19/2009 - Business Insurance
2008 cost of risk fell 9.4%: RIMS
http://www.businessinsurance.com/article/20090619/NEWS/906199986

6/19/2009 - Strategic Risk
US survey reveals drop in TCOR
http://www.strategicrisk.co.uk/story.asp?sectioncode=23&storycode=379058&c=2

6/23/2009 - Producersweb.com
RIMS: Cost of insurance risk down 9.4 percent
http://www.producersweb.com/r/WIRE/d/contentFocus/?adcID=3464420805fa1f63e6a6a1761006348e

6/24/2009 - Canadian Underwriter
Average cost of risk dropped in 2008, despite economy and catastrophes
http://www.canadianunderwriter.ca/issues/ISArticle.asp?aid=1000332117