Login Register Subscribe
Current Issue

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

MarketScout: Personal lines rates continue climb

Reprints

Personal lines rates increased 4% in December from those of the same month a year earlier, acccording to Dallas-based electronic insurance exchange MarketScout.

In a report issued Tuesday, MarketScout said that personal articles coverage rates increased the most at 5%, followed by homeowners at 4% and personal automobile at 3%.

MarketScout CEO Richard Kerr noted the impact of Superstorm Sandy in a statement announcing the December findings.

“Sandy certainly impacted most of the large personal lines insurers; however, the underwriting profit from placements across other parts of the U.S. has helped smooth the impact of losses in the Northeast,” said Mr. Kerr. “Those insurers writing excess and/or primary flood were hit hard. We project rate increases for flood insurance at plus 15% to 20%.”