Falling property insurance pricing hits Brown & Brown’s organic revenueSoftening commercial property insurance pricing dented organic growth at Brown & Brown during the second quarter, with some property rates falling sharply, the brokerage said Tuesday. For the quarter, Brown and Brown saw total revenue rise 30.4% to $1.68 billion. The brokerage’s specialty distribution segment reported a 3.5% decline in organic revenue as total revenues increased 28.1% to $721 million. Organic revenue was hurt by declining catastrophe property rates and approximately $10 million related to the timing of new business, according to CFO R. Andrew Watts. We’re ready to take the next steps to thoughtfully rewire key business processes, including sales and placement, submissions, and underwriting,” Mr. Brown said.