Commercial insurance rates are dropping in the United States

Cyber Insurance Coverage

Report highlights the falling premiums in the commercial insurance sector Commercial insurance rates have continued to drop for the second quarter of this year, according to a report from the Council of Insurance Agents & Brokers. The report is released every quarter and shows that premiums have continued to fall by an average of 3.3%, with large accounts seeing a decrease of 5.2%. Some sectors have seen an increase in premiums, however, such as the flood, commercial auto, and cyber liability sectors. Cyber liability is growing in popularity Commercial property,…

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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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Berkshire Hathaway to expand commercial insurance lines

Commercial Insurance rates

Commercial insurance proves attractive for Berkshire Hathaway Berkshire Hathaway, a multinational conglomerate with strong ties to the insurance industry, has somewhat ambitious plans to expand its commercial insurance business in the coming years. The company has remained somewhat stagnant with its commercial lines for some time, biding its time and hoping to ride out some of the turbulence that has been common throughout the insurance industry recently. The company recently acquired four new executives from the American International Group (AIG), and now plans to put more focus on its commercial…

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Latest Towers Watson insurance news

Insurance industry News

Surveys about commercial P/C coverage show increasing rates. For the fifth quarter in a row, Towers Watson insurance news is showing that commercial property and casualty coverage saw an increase in its prices. The first quarter of 2012 saw a rise in rates by almost 5 percent. Furthermore, the loss ratios for commercial insurers was found to have stabilized for the majority of coverage lines, and saw improvement in the lines that had the largest increases in their rates. This, according to the data collected from the Commercial Lines Insurance…

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Reputational risk a growing concern for companies and insurers

In the advent of social media, a person’s reputation is beginning to play a much more important role in the world of business. A new trend has been born in the insurance industry in the form of reputational risk. This risk is most apparent in companies that have had their reputations damaged by some sort of incident that caused consumer backlash. Companies with bad reputations tend to fare poorly in their given industry, as consumers often steer clear of such companies. In some cases, this avoidance can mean the end…

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