Survey Says P&C Prices Continue To Rise

Posted by Tim DeSett on September 5, 2012 under Casualty, Property, Risk Management | Be the First to Comment

Commercial property/casualty prices continue to rise at modest levels. MarketScout, the insurance exchange based in Dallas, reported in a new survey that commercial rates rose an average of 5% in August.

In a statement reported by Business Insurance, Richard Kerr, the CEO of MarketScout, said, ““Property rates continue to increase across the nation, with larger increases in wind-exposed areas on the Gulf Coast and Eastern Seaboard,” said Richard Kerr, CEO of MarketScout, in a statement. “This is normal during hurricane season.”

Overall property rates are up 7% while general liability and workers compensation rates followed with average rate hikes of 6% each. No lines of coverage experienced rate declines in the MarketScout survey.

This latest survey is consistent with Lockton’s experience in the market. See the latest market update summary here. 

http://www.locktonmarketupdateblog.com/lmu/2012/08/u-s-property-and-casualty-market-rising-rates-are-tempered-by-available-capacity/

Co-Authors Spotlight

Tim DeSett

CPA, ARM
Executive Vice President, Risk Practice Leader

Tim is one of the country’s leading risk finance experts. He quantifies structures and negotiates complex risk financing programs for corporate clients. He focuses on developing customized financial structures to help firms balance their business objectives, while reducing the cost of risk.

• Read Full Profile