Pricing in commercial lines and reinsurance appears to be firming, according to reports, and Moody's Investors Service has upgraded its outlook on both sectors to “stable” from “negative.”
Dallas-based insurance-exchange MarketScout's latest barometer, which tracks commercial-lines pricing in August, shows that average rates remain unchanged from July at minus-2 percent, indicating that property rates are continuing to firm, according to MarketScout CEO Richard Kerr.
Rates for both commercial property and business interruption were flat in August, compared to minus-2 percent in July, MarketScout says. Employment-practices-liability insurance exhibited more firming in August, going from flat to plus-2 percent. Crime lost some ground, from plus-1 percent to flat.
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