Verizon renewal eliminates Sandy gains

US open market property bellwether Verizon renewed on 1 January
with double-digit rate reductions despite its value growing by 6
percent, market sources told sister publication Inside
FAC.
It is understood that the telecommunications giant's
programme renewed with rate decreases of 10-15 percent on certain
lower layers and by an even larger reduction overall, sources
said.
Verizon is a flagship Aon account thought to have around $1bn of
limit. The programme's total insured value increase