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Recent research from MarketScout showed commercial property and casualty rates increased by 5% in the first quarter of 2023. When broken down by industry, transportation was the only group that saw a quarter-over-quarter increase, up from +7.3% in Q4 2022 to +8% in Q1 2023.
Those with large account premiums (between $250,000 and $1 million) saw a year-over-year increase, from +4% in Q1 2022 to +4.7% in Q1 2023, while small accounts (up to $25,000) increased 4%, medium accounts ($25,001 to $250,000) increased 3.7% and jumbo accounts (over $1 million) increased 4%.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
