Compared to a year ago, the composite rate for commercial property/casualty and professional lines coverage increased 3 percent in April 2012, according to new research from MarketScout, an insurance distribution and underwriting company. At 4 percent, workers’ compensation and property coverage rates increased the most, matching the March 2012 rate. Business-owner policy, general liability and D&O rates increased slightly from March to April.
“Each industry and coverage class we monitor includes placements with both admitted and non-admitted insurers,” said Richard Kerr, CEO of MarketScout. “Recently, we have noticed admitted and non-admitted insurers are pricing similarly.
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