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Market Scout: Commercial P/C Rates Rose 5% in April

Commercial property/casualty insurance rates rose an average of 5% in April over those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported...
May 14, 2013

Commercial property/casualty insurance rates rose an average of 5% in April over those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported. Commercial property and workers compensation experienced the most significant rate increases at 6%. Surety and employment liability insurance rose the least at 2% each. Among classes of business, manufacturing increased the most at 7%, while energy and public entity accounts enjoyed the smallest increases at 4% each.
“The market is bumping along in a continued slow but steady path toward overall increases,” said MarketScout CEO Richard Kerr in a statement. “For the rest of 2013, we expect some months with lower composite increases than prior months, but the general direction of rates will be upward, unless new capacity enters the market.”

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