By trade class, transportation and commercial residential property saw the biggest premium increases at 11.7% and 9.3%, respectively. (Credit: tostphoto/stock.adobe.com)
During the first quarter of 2021, commercial property & casualty rates saw an overall gain of 7%, according to MarketScout Corp., which reported umbrella, professional liability and D&O all saw double-digit increases.
Source: MarketScout Commercial property rates slightly outpaced the overall market, growing 8.6% during the period, the distribution and underwriting company reported. However, the market's size and spread of placements across the U.S. held the composite rate down, according to Richard Ker, MarketScout CEO.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
