"The composite national personal lines market continues to steadily adjust rates as necessary without year-over-year massive rate increases," Richard Kerr, CEO of MarketScout, said in a release. "However, for CAT exposed properties, rate increases can be dramatic; as much as 25%-40% in areas such as the wildfire corridors of California or southern portions of Florida." (Credit: Worawut/Adobe Stock)
During the final quarter of 2021, personal property & casualty lines saw rates increase an overall 4.25%, according to MarketScout, which reported the commercial line composite rate showed moderation during the fourth quarter with a 5.8% increase compared with 6.8% growth the prior quarter.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
