As goes the commercial market, so goes personal lines.
According to the August report from MarketScout, the US personal lines insurance market saw slightly lower premiums last month. A similar trend was noted in the commercial market.
“Personal insurance is becoming more competitive due to the limited number of major catastrophes this year, better automation systems and new market entrants,” explained MarketScout CEO Richard Kerr. ”It's not surprising to see rate moderation.”
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