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P/C Rates Down 2 Percent in October: MarketScout

MarketScout reports that commercial property and casualty insurance rates fell an average of 2 percent in October...
November 10, 2015

MarketScout reports that commercial property and casualty insurance rates fell an average of 2 percent in October. Commercial property rates declined 2 percent, while commercial auto and crime rates rose 1 percent. All account sizes saw declines in rates, and all classes of business registered declines, except for the service industry. “Insurers are hungry for premium, and capital providers are searching for ways to get in on the action. The obvious result is more competition resulting in rate reductions,” said MarketScout CEO Richard Kerr.

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