The composite rate for property and casualty coverages in the United States was down 4% for March 2010, according to According to MarketScout, a Dallas-based electronic insurance exchange that underwrites and distributes product lines to a 35,000-member agency network across the United States. The composite rates for February 2009 and 2010 were down 8% and 5% respectively.
“Including data from across the United Sates, the rate for workers’ compensation was down 2% in March as compared to down 5% in February. This is a significant month-on-month movement,” said Richard Kerr, CEO of MarketScout. “If workers’ compensation premiums continue to moderate over the next several months, it will be a clear sign that comp insurers are beginning to increase premiums. In April, the NCCI will publish new data outlining insurers¹ results for 2009. This data may give us additional indications of what we can expect for comp pricing for the rest of 2010. We will be watching carefully.”
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access