Commercial-lines agents and brokers say pricing continued to moderate in the fourth quarter, a trend seen throughout 2013, according to the Council of Insurance Agents & Brokers' latest quarterly pricing survey.
Pricing was up on average by 2.1% in 2013's fourth quarter compared to the previous quarter, CIAB says. In the third quarter, rates were up by 3.4% over rates in the second quarter. Rates icreased by 4.3% in the second quarter and by 5.2% in the first quarter.
Small accounts saw the steepest increases in the fourth quarter, at 2.6%. In the third quarter, small accounts increased by 3.8%. Medium accounts saw fourth-quarter increases of 2.4%, compared to 3.7% in the third quarter, and large accounts were up by 1.4% in the fourth quarter compared to 2.6% in the third.
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