Commercial rates increased 5 percent, while personal lines prices were up 4 percent last month, according to MarketScout’s monthly Market Barometer.
Richard Kerr, CEO of MarketScout, confirmed the commercial results noting, “Historically, underwriters have been very aggressive in pricing name brand or large accounts. Other than bragging rights, there are few sound underwriting reasons for aggressively pricing large accounts. Risk is risk and exposure is exposure. In March, underwriters more frequently assessed an appropriate premium for large accounts.”
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