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Commercial property/casualty insurance rates in March were flat compared with those of the same month in 2014, Dallas-based electronic insurance exchange MarketScout reported Monday.
That compared with an average 1% increase in February.
No line of coverage increased by more than 1%, although none of the lines tracked by MarketScout experienced a decrease. As usual, the smaller the account, the larger the increase, with the smallest accounts reporting a 1% increase while the largest were flat. There was also no significant difference among the classes of business monitored by MarketScout.
“March is an important month,” said MarketScout CEO Richard Kerr in a statement. “There is a considerable volume of U.S. business placed with both the U.S. and international insurers. While a small change from February, the downward adjustment in rates may be an indicator of what is to come for the next six months.”
Stable is the best way to describe commercial property/casualty insurers' performance during 2014.