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Commercial Rates Continue Downward Trend

According to the Council of Insurance Agents & Brokers (CIAB), commercial property and casualty rates fell 2.5 percent across all accounts in the first quarter of 2017, but the rate of decline eased from 3.3 percent in the fourth quarter of 2016...
May 17, 2017

According to the Council of Insurance Agents & Brokers (CIAB), commercial property and casualty rates fell 2.5 percent across all accounts in the first quarter of 2017, but the rate of decline eased from 3.3 percent in the fourth quarter of 2016. The brokerage trade group noted that insurance rates have dropped for the past nine quarters.

Large accounts saw the greatest rate decrease at 3.8 percent. By line, the biggest decline was in commercial property (down 3.1 percent), followed by general liability (down 2.6 percent), workers’ compensation (down 1.9 percent), and umbrella (down 1.1 percent). Commercial auto was the only major line to see an increase, with rates up an average of 5.4 percent.

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