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October Rates Point to Possible Market Shift

Showing rate increases/decreases were flat for the month, MarketScout’s October barometer provides further evidence of the soft market making a turnaround. One insurance-broker executive says he believes the industry is actually primed for an increase in demand— although likely in areas outside the traditional property and casualty arena
November 15, 2011

Showing rate increases/decreases were flat for the month, MarketScout’s October barometer provides further evidence of the soft market making a turnaround. One insurance-broker executive says he believes the industry is actually primed for an increase in demand— although likely in areas outside the traditional property and casualty arena.

Business-owner’s policy, directors’ and officers’ liability, employers’ professional liability insurance and surety were all up 1 percent, while workers’ compensation was up 2 percent. By account size, small accounts were up 2 percent, and medium accounts ($25,011-$250,000 in premium) were up 1 percent. Large accounts and jumbo accounts (over $1 million in premium) were both flat. According to the National Underwriter, recent comments on 2011 third-quarter conference calls support the idea that companies are beginning to get rate increases on certain lines of business.

Read the entired article on market rates: October Rates Point to Shift (National Underwriter 11/14/11)

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