Price of commercial insurance remains level for another month

commercial auto insurance business

For the fourth straight month, the prices have kept themselves relatively static, said a new report. According to a recent report that was issued for June by MarketScout, the commercial insurance rates haven’t moved very much at all over the last four months, with only one exception. In June, the business interruption line of insurance did see its rates slide downward when compared to May. That said, the decrease that the commercial insurance rates saw in the business interruption line was only by an average of one percent, so it…

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Commercial insurance rates on the rise in the US

Commercial Insurance

MarketScout data shows growth of commercial insurance rates Commercial insurance rates continue to rise in the U.S., according to data from MarketScout, an insurance quotes firm. Rates have risen for four consecutive months throughout the country for various reasons, including the impact of natural disasters, fraud, and general issues involving theft and regulatory changes. Commercial insurance rates are expected to continue growing in the foreseeable future, especially where vehicle and property coverage is involved. Exactly how quickly rates will grow is not certain. Rates grow by 5% in June of…

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Property and casualty insurance rates increased by 5 percent last month

Property insurance News commercial P&C insurance

According to MarketScout data, the prices rose in April for policyholders of commercial products. According to a report from MarketScout, the rates for commercial property and casualty insurance rose by an average of 5 percent in April 2013, when compared to the rates that were being charged a year before. It was workers compensation and commercial property that saw the largest increases over a year. The commercial property and casualty insurance and workers compensation saw a combined average rate increase of 6 percent. Surety and employment liability coverage each increased…

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Multi-state regulations are driving up the price of insurance coverage, according to research

Commercial insurance rates

Research suggests that regulations may be causing insurance rate hikes Multi-state regulations are common throughout the insurance industry. Insurance companies are forced to comply with these regulations no matter where they may be in the U.S. Regulators often impose these directives as a way to ensure that companies are not taking advantage of consumers by exploiting regulatory gaps. These expansive regulations are a double-edged sword, however, as they require a significant and ongoing financial investment from each state that adopts them. Research from the University of Iowa suggests that these…

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Towers Watson survey shows prices for commercial insurance continued their rise during Q4 2011

According to the results of the most recent Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS), the prices for commercial insurance increased by a total of 3 percent throughout the final quarter last year, which completed a year in which every quarter saw rising prices for all lines of standard commercial products. Furthermore, according to the report by the global professional services company, earned price increases are starting to compensate for the portions of the reported claim cost inflation levels. Data from CLIPS showed that, yet again, the commercial property…

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Commercial insurance market is on the cusp of a new growth

Jay Fishman, the chief executive of Travelers Cos. spoke at a financial services conference for Goldman Sachs, and announced that the insurer had boosted their business insurance prices in October by 5.2 percent, and in November by 5.8 percent, which are the most significant increases that have been made in a number of years. Travelers is known for painting a brighter image of prices than other insurance companies, and this latest announcement doesn’t appear to have changed that fact. However, at the same time, when the insurer said that it…

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Commercial insurance rates may be on the rise due to 2010 losses

Premiums for commercial lines of insurance are still low, mainly due to an increased amount of insurers offering coverage, and the low amount of consumers looking for providers, and not making claims. Most small and midsized business rates remained the same, while some large companies saw minor decreases. The last two years have been relatively calm for most states, as far as natural disasters go; compared to losses that have occurred in previous years. This has created an increase in capital that insurance companies have had to work with when…

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