Commercial-insurance rates were up by 4 percent in February compared to the same month a year ago, but different industry classes led the charge on increases compared to months prior, according to MarketScout.
Richard Kerr, CEO of MarketScout, says, “Over the last year, transportation and energy have lead rate increases most of the time. However, for February, transportation was up 4 percent and energy was up 3 percent. The only industry with a lesser rate increase was public entities. Manufacturing, service and habitational companies lead the February industry rate increases at plus 6 percent.”