1Q Commercial Insurance Rates Up 2%

MarketScout's results from in person surveys and mathematical computations have been compiled for the first quarter of 2019. The composite rate increase for commercial lines is up 2 percent as compared to the same time period one year ago.

Richard Kerr, CEO of MarketScout, outlined the first quarter rating environment by noting, “Transportation risks were up 4 percent. Auto continues to be assessed the most aggressive rate increase by line of coverage at plus 7 percent. Also, energy exposures are now starting to see more rate increases. Otherwise, the commercial market is stable.”

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 first quarter 2019 rates by coverage, industry class and account size is set forth below.

By Coverage Class
Commercial Property	Up 2.5%
Business Interruption	Up 2%
BOP	Up 2%
Inland Marine	Up 2%
General Liability	Up 2%
Umbrella/Excess	Up 2%
Commercial Auto	Up 7%
Workers’ Compensation	Down 1%
Professional Liability	Up 2%
D&O Liability	Up 1%
EPLI	Up 1%
Fiduciary	Up 1%
Crime	Up 1%
Surety	Flat%

By Account Size
Small Accounts	Up 2.5%
Up to $25,000

Medium Accounts	Up 2%
$25,001 – $250,000

Large Accounts	Up 1%
$250,001 – $1 million

Jumbo Accounts	Up 1%
Over $1 million