Property-casualty premium rates for November showed a continued downward swing, with a composite decrease of 9 percent, according to MarketScout, the online electronic insurance exchange.
Workers' compensation and general liability were down 9 percent and 10 percent, respectively, reported the Dallas-based MarketScout, which compiled its findings from its own submissions, interviews with industry executives, and surveys conducted by the National Alliance for Insurance Education and Research.
Property, business interruption and inland marine continued to soften as well, with rate decreases of 4 percent.
Crime and surety were the only coverages with price increases, which were up 2 percent.
Looking at account size, premium rates were down for all types of buyers. Small accounts were down the least at 7 percent, while medium-size accounts were down 10 percent. Jumbo accounts were down 11 percent, while large accounts decreased the most on average at 12 percent.
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