(Credit: Steve Hallo/ALM. Photos: Adobe Stock)
Commercial property and casualty composite rates increased by a moderate 5% in the first quarter of 2023, according to a report from MarketScout.
By account size, only those with large account premiums ($250,000 to $1 million) saw a year-over-year increase, rising from +4% in Q1 2022 to +4.7% in Q1 2023. Small accounts (up to $25,000) were +4%, medium accounts ($25,001 to $250,000) were +3.7% and jumbo accounts (over $1 million) were +4% in the first quarter of 2023.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
