Wednesday, 23 April 2008

Return of the Anecdotal Jedi

Just as I had posted about the significance of empirical data in analyzing premium rate trends in the commercial insurance marketplace, CIAB comes out with an announcement that proves my point clearly. See here for coverage including the following:
three-fourths of the agents and brokers reporting that renewal premiums for
their small and medium accounts were down 1-20 percent compared with fourth
quarter 2007.
I'd like to see how a broker could be taken seriously using data so imprecise. See for precision.

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