The US commercial insurance market composite rate index has slightly decreased the pace of
price-cutting after three consecutive months at minus 4 percent.
“One month certainly is not a trend but insurers did moderate their aggressive pricing in
March,” noted Richard Kerr, CEO of MarketScout.
Commercial property, inland marine, general liability, umbrella, workers’ compensation, and
professional lines all moderated by 1 percent.
Small accounts (up to $25,000 premium) were down 3 percent as compared to down 4 percent the
prior month. Large accounts ($250,000 to $1,000,000) and medium accounts ($25,001 – $250,000) were
down 4 percent as compared to down 5 percent the prior month. Jumbo accounts were unchanged.
By industry classification, manufacturing, contracting, and service all moderated by 1 percent
as compared to the prior month. Habitational rates were minus 4 percent in March as compared to
minus 6 percent in February.
The National Alliance for Insurance Education and Research conducted pricing surveys
used in MarketScout’s analysis of market conditions. These surveys help to further corroborate
MarketScout’s actual findings, mathematically driven by new and renewal placements across the
A summary of the March 2016 rates by coverage, industry class and account size is set forth
By Coverage Class
Commercial Property – Down 4%
Business Interruption – Down 3%
BOP – Down 1%
Inland Marine – Down 2%
General Liability – Down 1%
Umbrella/Excess – Down 2%
Commercial Auto – Down 1%
Workers’ Compensation – Down 2%
Professional Liability – Down 3%
D&O Liability – Down 2%
EPLI – Flat
Fiduciary – Down 2%
Crime – Flat
Surety – Down 1%
By Account Size
Small Accounts – Down 3%
Up to $25,000
Medium Accounts – Down 4%
$25,001 – $250,000
Large Accounts – Down 4%
$250,001 – $1 million
Jumbo Accounts – Down 4%
Over $1 million
By Industry Class
Manufacturing – Down 4%
Contracting – Down 2%
Service – Down 2%
Habitational – Down 4%
Public Entity – Down 3%
Transportation – Down 4%
Energy – Down 3%
For detailed rating analysis or market projections by industry class, coverage or account size, contact
Vilma Scott at firstname.lastname@example.org.
MarketScout, an insurance distribution and underwriting company headquartered in Dallas,
compiles the Commercial and Personal Lines Market Barometers. The firm owns and operates
the MarketScout Exchange at marketscout.com as well as over 40 other online and traditional
underwriting and distribution venues. MarketScout founded the Entrepreneurial Insurance Alliance
(EIA) in 2009. In 2012, MarketScout founded the Council for Insuring Private Clients (CIPC).
MarketScout has offices in California, Connecticut, Florida, Georgia, Illinois, Indiana, Nebraska,
Nevada, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, and Washington, D.C.