In March, MarketScouts Market Barometer showed that rate increases picked up steam ever so slightly to plus-3%, but in April, a multitude of factors caused rates to moderate again to plus-2%.
By coverage class, commercial property placements were up to plus 3% from plus 2% the prior month, and business owners policies (BOP) were up to plus 4% from plus 3% in January.
Workers compensation and commercial auto risks saw the steepest rate increases in January at +4% compared to the same month in 2013but the commercial-lines market overall continued its moderating trend, according to MarketScout.