Commercial Rates Up In 4Q
US Commercial Rates Up in Fourth Quarter 2018
Measured approach yields steady market The US commercial insurance composite rate averaged an increase of 2 percent in the fourth quarter 2018, which matches the composite rate for the entire year of 2018 (up 2 percent). Transportation and commercial auto lead 2018 rate increases in the fourth quarter at plus 6 and 7 percent respectively. Workers’ compensation measured a rate decrease in the fourth quarter of minus 1.5 percent. Quarter by quarter the composite rate for 2018 hovered between plus 2 to plus 2.5 percent. Richard Kerr, CEO of MarketScout noted, “Ample capacity remains in the commercial insurance market. Rates for all coverage classifications other than workers’ compensation are increasing at a controlled, slow pace. Only transportation and commercial auto exposures are suffering large rate increases.” 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 fourth quarter 2018 rates by coverage, industry class and account size is set forth below. |
||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||
For detailed rating analysis or market projections by industry class, coverage or account size, contact Vilma Scott at [email protected]. | ||||||||||||||||||||||||||||||||||||||||||||
About MarketScout
MarketScout, an insurance distribution and underwriting company headquartered in Dallas, compiles the Commercial and Personal Lines Market Barometers. The firm is a Lloyd's Coverholder and MGA for U.S. insurers. MarketScout owns and operates the MarketScout Exchange as well as over 40 other online and traditional underwriting and distribution venues. MarketScout is founder of the Council for Insuring Private Clients (CIPC) and administers the Certified Personal Risk Manager (CPRM) designation in partnership with The National Alliance for Insurance Education and Research. The firm founded the Entrepreneurial Insurance Alliance (EIA) in 2007 and presents the Entrepreneurial Insurance Symposium (EIS) every September. In 2017, MarketScout founded MarketScout InsurTech (MIT) venture fund. In January 2018, MarketScout launched its Incubator to accelerate start-up MGAs and assume operational functions for existing MGAs and insurers. MarketScout has offices in Arizona, Arkansas, California, Florida, Georgia, Illinois, Iowa, Nebraska, Pennsylvania, South Carolina, Tennessee, Texas, and Washington, DC. For more information, please visit us at MarketScout.com. |
Personal Lines Composite Rate Rises 2.25% In 4Q
Tibshraeny leaving Chandler in good hands
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News