In November 2012, the overall composite rate for insuring commercial accounts in the United States was up 5 percent as compared to November 2011, according to MarketScout’s Commercial and Personal Lines Market Barometers.
By coverage classification, property, excess liability, general liability and workers' compensation rates increased the most at plus-5 percent. By account size, all accounts under $1,000,000 premium were up 5 percent as compared to November 2011. Jumbo accounts over $1,000,000 premium were down from plus-2 percent in October to plus-3 percent in November. By industry class, manufacturing had the most significant month-on-month rate increase at plus-6 percent as compared to plus-4 percent the prior month. Transportation accounts were also up 6 percent.
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