Personal lines insurance rates are slowly rising, but commercial lines remain flat, so the price of insurance for all businesses is unchanged year-over-year, according to research from insurance exchange Marketscout.
“The market continues to be trending downward over the last eight months, from October 2014 at plus-1.5 percent to April 2015 at a zero-percent increase,” said Richard Kerr, CEO of MarketScout. “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.”
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