MarketScout has compiled the composite rate index for personal lines policies placed across the United States in the month of August 2012 at an increase of 2 percent. Data compiled from the MarketScout Exchange along with results from surveys conducted by The National Alliance for Insurance Research and Education were utilized to promulgate the 2 percent increase.
Richard Kerr, CEO of MarketScout commented, “The market didn’t move much from June to July as the composite rate remained at plus 2 percent. The only movement was in personal article floaters which were up from plus 2 percent to plus 3 percent.”
A summary of the July 2012 personal lines rates is set forth below.
The barometer is compiled by MarketScout, an insurance distribution and underwriting company headquartered in Dallas. The firm owns and operates the MarketScout Exchange at www.marketscout.com as well as over 40 other online and traditional underwriting and distribution venues. In 2010, MarketScout launched MarketScout Wholesale, LLC (MSW), to complement its electronic underwriting and distribution strategy. MarketScout and MSW have offices in Arizona, Arkansas, California, Connecticut, Florida, Indiana, Illinois, Louisiana, New York, Oregon, Tennessee, Texas and Washington D.C.