MarketScout data shows commercial property and casualty (P&C) insurance rates rose through the fourth quarter of 2021, with the composite rate standing at 5.8 percent versus 6.8 percent in Q3. According to MarketScout, the most significant rate increases in the fourth quarter were for umbrella, property, and directors and officers liability. However, with the exception… Continue reading P&C Rates Up through Q4 with Increases Moderating
Tag: Umbrella insurance
Rate Moderation in Second Quarter 2021
The composite rate for the second quarter 2021 was 5.9 percent versus 7 percent in the first quarter. Commercial insurance buyers paying $25,000 or less in premium are paying a slightly lower rate at 5 percent versus 6.3 percent in the first quarter. As measured by line of coverage, professional lines rates adjusted significantly at… Continue reading Rate Moderation in Second Quarter 2021
Umbrella and Cyber Lines of Business Continued to Struggle in Q1: CIAB
Premiums continued to rise in Q1 2021, according to results from The Council of Insurance Agents & Brokers’ Q1 2021 Commercial Property/Casualty Market Index, though there were further signs the pandemic’s exacerbation of existing market conditions eased. Across all-sized accounts, the average increase in premium prices was 10% in Q1 2021, the 14th consecutive quarter… Continue reading Umbrella and Cyber Lines of Business Continued to Struggle in Q1: CIAB
Third-Quarter Insurance Composite Rate Increase at 6.25%
At the close of the third quarter 2020, insurance buyers were assessed rate increases on every line of coverage and industry class. Richard Kerr, CEO and Founder of MarketScout, profiled the current market environment by pointing out, “The composite rate is up 6.25 percent for the third quarter 2020 as compared to up 4.8 percent… Continue reading Third-Quarter Insurance Composite Rate Increase at 6.25%
U.S. Commercial Insurance Prices Accelerate Again, As Carriers Report Changes of Over 6%
U.S. commercial insurance prices accelerated during the fourth quarter of 2019, as the aggregate price change reported by carriers exceeded 6%, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). This is a continuation of the acceleration observed in recent quarters. The survey compared prices charged on policies underwritten during the fourth quarter… Continue reading U.S. Commercial Insurance Prices Accelerate Again, As Carriers Report Changes of Over 6%
Market Continued to Harden in Q4 2019: CIAB Survey
The market continued to harden in Q4 2019, according to The Council of Insurance Agents & Brokers’ quarterly Commercial Property/Casualty Market Survey. Respondents reported rising premiums for all account sizes and all lines of business, with the exception of Workers’ Compensation, a notable trend in previous Council surveys. Premium prices increased by an average of… Continue reading Market Continued to Harden in Q4 2019: CIAB Survey
Commercial Insurance Buyers Can Expect Sizeable 2020 Rate Increases: WTW
North American commercial insurance buyers will face sizable price increases in 2020, across most lines of insurance, according to Willis Towers Watson’s Insurance Marketplace Realities. The report serves as a guide for North American insurance buyers preparing for upcoming insurance program renewals. While Willis Towers Watson reports that capacity is available in all but the… Continue reading Commercial Insurance Buyers Can Expect Sizeable 2020 Rate Increases: WTW
Renewal Rates Experience Year-Over-Year Increase Across Nearly All Major Commercial Lines Products
IVANS, a division of Applied Systems, announced the results for Q2 2019 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 increases in average premium renewal rate change; Workers’ Compensation remains in negative territory. Quarter over quarter, there was… Continue reading Renewal Rates Experience Year-Over-Year Increase Across Nearly All Major Commercial Lines Products
U.S. Commercial Insurance Prices Increase During Q1 2019
U.S. commercial insurance prices have increased in the first quarter of 2019, according to leading global advisory, broking and solutions company, Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the first quarter of 2019 to those charged for the same coverage during the same quarter… Continue reading U.S. Commercial Insurance Prices Increase During Q1 2019
Renewal Rates Experience Increase Across Nearly All Major Commercial Lines Products
IVANS, a division of Applied Systems, announced the results for Q1 2019 IVANS Index, the insurance industry’s premium renewal rate index. Q1 results showed an increase in premium renewal rate change average across Commercial Auto, Business Owner’s Policy, Umbrella, and Commercial Property compared to Q4; however, General Liability renewal rate change experienced a decrease and… Continue reading Renewal Rates Experience Increase Across Nearly All Major Commercial Lines Products