Personal lines insurance rates began the year 2012 up 2 percent and gradually adjusted to plus 4 percent by year-end.

December rates for the personal lines sector matched those of the preceding month at plus 4 percent.

According to Richard Kerr, CEO of MarketScout, “Sandy certainly impacted most of the large personal lines insurers; however, the underwriting profit from placements across other parts of the U.S. has helped smooth the impact of losses in the Northeast. Those insurers writing excess and/or primary flood were hit hard. We project rate increases for flood insurance at plus 15 to 20%.”

Personal articles insurance rates were up 4 percent in December as compared to up 3 percent in November.. Homeowners coverage for homes over $1,000,000 were up 4 percent in December as opposed to up 5 percent in November. Other rates remained unchanged.

The National Alliance for Insurance Education and Research conducted pricing surveys used in MarketScout's analysis of market conditions. These surveys help to further corroborate MarketScout's actual findings, mathematically driven by new and renewal placements across the United States.

A summary of the December 2012 personal lines rates is set forth below.

About MarketScout

MarketScout is the founder of the Council for Insuring Private Clients(CIPC). The CIPC's mission is to provide a venue where agents and insurers may collaborate on how to better serve their private clients. The Commercial and Personal Lines Market Barometers are 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. MarketScout founded the Entrepreneurial Insurance Alliance in 2009. 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.