Commercial property-casualty insurance rates dropped again in July–by 7 percent–though a few lines showed upward pricing trends, according to a monthly report from an online insurance exchange.
Over the previous four months, the average composite rate for commercial property-casualty coverages tracked by Dallas-based MarketScout dropped 5 percent in April, 6 percent in May, 7 percent in June, and now 7 percent again in July.
While the majority of individual lines were down anywhere from 1-to-8 percent, rates for directors and officers liability and fiduciary liability were flat. Commercial property was up 2 percent, and business income and crime were up 1 percent, according to MarketScout.
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