Property-casualty insurance rates for January declined 9percent, the same level seen in the prior two months, according toMarketScout.
|By coverage class, MarketScout reported declines:
- Business owners–10 percent
- Commercial property and general liability–9 percent
- Commercial auto and crime–8 percent
- Business interruption, umbrella/excess, workers' compensation,professional liability, employment practices liability andfiduciary–7 percent
- Inland marine and surety–6 percent
- D&O liability–5 percent.
Reductions by account size were steepest for large accounts,from $250,001 to $1 million, which were down 10 percent.Medium-sized accounts from $25,001 to $250,000 were down 9 percent,and small accounts of $25,000 and less were down 8 percent.
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