The April 2013 U.S. composite rate index for property, casualty and professional liability business was plus-5 percent, the same as March, while personal lines rates increased 3 percent, down one percentage point from March, according to Marketscout’s monthly pricing index.
Among commercial lines, medium accounts saw the biggest increases (7 percent); jumbo accounts slipped to a 3-percent increase from 5 percent last month. Manufacturing saw the biggest increase by industry class (7 percent). And commercial property and workers’ compensation saw the biggest increases by coverage class, 6 percent respectively, with commercial auto, umbrella/excess and BOP each seeing rates jump up 5 percent.
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