Property/casualty insurance pricing remains competitiveReprints
Average commercial property/casualty insurance prices were flat in April compared with those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported Tuesday.
Among the lines of coverage tracked by MarketScout, commercial automobile experienced a 2% increase, while commercial property and employment practices liability insurance posted 1% increases.
By account size, the largest accounts reported year-to-year decreases of 2%. Rates for the smallest accounts rose by 1%.
“The market continues to be trending downward over the last eight months, from October 2014 at plus 1.5% to April 2015 at a 0% increase,” MarketScout CEO Richard Kerr said in a statement. “It's not dramatic, but it is a trend. Coastal property may experience some slight rate increases since we are on the cusp of the wind season. Rates on all other exposures should continue to be quite competitive.”