Insurance Renewals Experience Uptick Across Nearly All Major Commercial Lines Products

IVANS®, a division of Applied Systems®, today announced the results for Q4 and year-end 2019 IVANS Index™, the insurance industry’s premium renewal rate index. Q4 results showed an increase premium renewal rate change average across Commercial Auto, Business Owner’s Policy, General Liability, Umbrella, and Commercial Property compared to Q3; however, Workers’ Compensation average premium renewal… Continue reading Insurance Renewals Experience Uptick Across Nearly All Major Commercial Lines Products

Zurich Sees Rising Rates, Improved Terms

Zurich life insurance deal collapses

Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums. “The last time this kind of market really existed was in 2002,” James Shea, the company’s head of commercial… Continue reading Zurich Sees Rising Rates, Improved Terms

USI Report: Commercial P&C Rates Across Several Lines Continue to Accelerate

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Many commercial property/casualty rate increases appear to be accelerating, according to a recent report by USI Insurance Services LLC. Fewer lines such as workers compensation and primary general and products liability were flat or down from midyear, according to USI’s 2019 Fourth Quarter Commercial Property/Casualty Insurance Market Outlook, released Nov. 1 Noncatastrophe-exposed property accounts with… Continue reading USI Report: Commercial P&C Rates Across Several Lines Continue to Accelerate

Premium Renewal Rates Experience Increase Across Nearly All Major Commercial Product Lines: IVANS

IVANS®, a division of Applied Systems®, announced the Q3 2019 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, Commercial Auto, Business Owner’s Policy, General Liability, Umbrella and Commercial Property all experienced an increase in average premium renewal rate change in Q3; Workers’ Compensation remains in negative territory. Quarter… Continue reading Premium Renewal Rates Experience Increase Across Nearly All Major Commercial Product Lines: IVANS

U.S. Commercial Insurance Rates Increase 4% in Q3

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U.S. commercial property/casualty insurance rates rose 4% on average in the third quarter of 2019, up from 3% in the second quarter, online insurance exchange MarketScout Corp. said Monday. By industry class, habitational and transportation businesses saw the highest average rate increases at 6% and 7.5%, respectively, MarketScout Corp. said. A “relatively benign” third quarter… Continue reading U.S. Commercial Insurance Rates Increase 4% in Q3

U.S. Commercial Lines Profits Could Improve Further in 2019: Fitch

Fitch Ratings on P&C industry 2024

Direct statutory written premiums in the U.S. commercial lines insurance segment grew 5% in 2018, up from 3% the year prior, according to a new report from Fitch Ratings. On a net basis, 2018 premiums grew 15%, an improvement bolstered by U.S. tax laws, which allowed large commercial underwriters to keep more business onshore. “If… Continue reading U.S. Commercial Lines Profits Could Improve Further in 2019: Fitch