Average Personal Lines Composite Rate Up 3% In 4Q
Average US Personal Lines Composite Rate Up 3% in Fourth Quarter 2017
Some Homes with Losses in Catastrophe Areas Up 15% The composite rate for US personal lines placements across the US was up from plus 2 percent in the third quarter 2017 to plus 3 percent in the fourth quarter. “We are seeing different rates in different geographical areas,” explained Richard Kerr, CEO of MarketScout. “Insureds with homes in catastrophe prone areas, particularly those who suffered losses in the 2017 wind season were hit with the highest rate increases. Some increases were as much as 15 percent.” The composite homeowners rates for homes of all values was plus 4 percent in the fourth quarter 2017. Auto insurance was up from plus 2 percent in the third quarter 2017 to plus 3 percent in the fourth quarter of 2017. Personal articles and fine art remained steady at plus 1 percent. 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 2017 fourth quarter personal lines rates is set forth below. |
||||||||||||||
|
4Q P/C Composite Rate Up 2%
Assurant Inc. Files SEC Form 8-K, Current Report: (Dec. 21, 2017)
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News