The composite rate for U.S. personal lines was up 3% forOctober, according to the MarketScout insurance exchange.
|Homeowners insurance in the U.S. increased an aggregate of 3% inOctober 2014, regardless of home value, MarketScout found.Automobile rates were the same as September, at plus 2%, andpersonal article rates matched the plus 1% from September.
|“Personal lines insurers are going to have a good 2014, despitea large number of micro storms, which resulted in notable claimsactivities,” said Richard Kerr, MarketScout CEO, in a statementannouncing the findings. “Rates should remain stable and actuallyadjust downward a bit more by year end.”
|Here are the Personal Lines numbers from MarketScout:
Homeowners under $1 million value | Up 4% | |
Homeowners over $1 million value | Up 3% | |
Automobile | Up 2% | |
Personal Articles | Up 1% |
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
