After four months of rate increases at 5 percent, pricing in the property/casualty market moderated in July, increasing by 4 percent. Personal lines rates increases slowed to plus-3 percent for July 2013 as compared to plus-4 percent for June.
“Without any catastrophic events, it is natural to see the market drift downward,” said Richard Kerr, MarketScout CEO andfFounder of the Council for Insuring Private Clients (CIPC). “The market is quiet. Many underwriters, insurers and brokers are on holiday after securing their July 1 renewals. We will have a much better feel for where things are headed once the results are tabulated for September and October.”
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