Business Insurance
Mark Hofmann
January 8, 2013
Commercial property/casualty insurance rates continued to climb in December, increasing an average 5% over those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported Monday.
Rates for commercial automobile increased the most at 6%, followed by commercial property and general liability at 5% each. Surety rates increased the least at 1%.
The manufacturing, service and transportation industries sustained the largest increases at 6%, while public entity and energy industry accounts reported the smallest increases at 4%.
Best Maintains Negative Outlook
MarketScout Report
Showing posts with label MarketScout. Show all posts
Showing posts with label MarketScout. Show all posts
Tuesday, January 8, 2013
Friday, April 6, 2012
Commercial Property/Casualty Rates Continue Moving Up
Business Insurance
By Mark Hofmann
April 5, 2012
Commercial property/casualty insurance rates increased an average of 3% in March compared with a year earlier, MarketScout reported Thursday.
According to the Dallas-based electronic insurance exchange, workers compensation and commercial property experienced the greatest rate increases at 4% each.
No line of insurance tracked by MarketScout reported a rate decrease, although rates for fiduciary and crime insurance remained flat compared with those of a year earlier.
Among industry classes, manufacturing, contracting, transportation and energy each experienced 3% rate increases; service and habitational accounts registered 2% increases; and public entities experienced the smallest increase at 1%.
“Our results continue to show a slow and steady path towards rate increases in all segments,” whether by line of coverage, industry group or account size, MarketScout CEO Richard Kerr said in a statement.
Vigilant Transport: Another factor driving rate increases is the vulnerability to rising interest rates.
"Interest rate increases could result in a capital loss of between $40 billion and $60 billion on the industry's $874 billion bond portfolio in 2012, or 7% to 11% of its equity capital base,"
By Mark Hofmann
April 5, 2012
Commercial property/casualty insurance rates increased an average of 3% in March compared with a year earlier, MarketScout reported Thursday.
According to the Dallas-based electronic insurance exchange, workers compensation and commercial property experienced the greatest rate increases at 4% each.
No line of insurance tracked by MarketScout reported a rate decrease, although rates for fiduciary and crime insurance remained flat compared with those of a year earlier.
Among industry classes, manufacturing, contracting, transportation and energy each experienced 3% rate increases; service and habitational accounts registered 2% increases; and public entities experienced the smallest increase at 1%.
“Our results continue to show a slow and steady path towards rate increases in all segments,” whether by line of coverage, industry group or account size, MarketScout CEO Richard Kerr said in a statement.
Vigilant Transport: Another factor driving rate increases is the vulnerability to rising interest rates.
"Interest rate increases could result in a capital loss of between $40 billion and $60 billion on the industry's $874 billion bond portfolio in 2012, or 7% to 11% of its equity capital base,"
Tuesday, March 6, 2012
Property-Casualty Rates Continue to Rise
Business Insurance
By Mark Hoffman
3/6/2012
Signs of change in the commercial property/casualty insurance market continue with rates rising by an average of 2% in February over those of the same month a year earlier, according to an analysis released Monday by MarketScout.
According to the Dallas-based electronic insurance exchange, workers compensation and commercial property coverage experienced the greatest increases at 3%. General liability, umbrella/excess and business owners’ policies each rose by an average of 2%. All other lines surveyed increased by 1% except fiduciary and surety coverages, which remained flat.
“In September, 2011, rates were flat,” said MarketScout CEO Richard Kerr in a statement announcing the February figures. “Since then, we have continued to see evidence of a slowly turning market with the composite rate at 0% in October, 1% in November 2011 through January 2012, and now a 2% increase in February 2012.”
By Mark Hoffman
3/6/2012
Signs of change in the commercial property/casualty insurance market continue with rates rising by an average of 2% in February over those of the same month a year earlier, according to an analysis released Monday by MarketScout.
According to the Dallas-based electronic insurance exchange, workers compensation and commercial property coverage experienced the greatest increases at 3%. General liability, umbrella/excess and business owners’ policies each rose by an average of 2%. All other lines surveyed increased by 1% except fiduciary and surety coverages, which remained flat.
“In September, 2011, rates were flat,” said MarketScout CEO Richard Kerr in a statement announcing the February figures. “Since then, we have continued to see evidence of a slowly turning market with the composite rate at 0% in October, 1% in November 2011 through January 2012, and now a 2% increase in February 2012.”
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