The composite rate for commercial P&C and personal lines insurance both increased in June, according to MarketScout’s monthly market barometer. On average, commercial P&C lines in the United States increased at plus-5 percent, and rates on personal lines increased 4 percent in anticipation of an active hurricane season.
For commercial lines, all coverages, industry groups and account sizes held within a plus-1-to-minus-1 percent range as compared to May. Commercial auto had the highest rate increases at plus-6 percent. Property, general liability, directors and officers (D&O) liability and employment practices liability insurance (EPLI) followed at plus-5 percent. EPLI made the most significant upward rate adjustment in the last four months, the MarketScout report noted.
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