More fidelity/crime insurance accounts are seeing rate increases as 2012 progresses, and overall, this segment of the market is described by insurance-broker Marsh as "relatively stable" in terms of both rate and available capacity.
"In general, insurers are now seeking premium increases, especially where there have been measurable increases in exposures," says Marsh in its Benchmarking Trends report, titled, "Fidelity/Crime Insurance Rates Rise in Third Quarter."
Marsh says the percentage of accounts experiencing rate hikes at renewal increased from 28 percent in 2012's first quarter to 46 percent in the third quarter. Overall, in the third quarter, rates increased an average of 3.3 percent, Marsh says. However, the broker notes that many clients can still achieve flat renewals, and clients with favorable risk profiles could still see premium savings "through aggressive marketing and/or restructuring of programs."
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