Personal insurance rates have gone up by 2% so far this year, while commercial P&C rates have remained generally stagnant, indicating that the industry will have to continue preparing for a soft market.

The combined average of personal insurance rates went up the same amount in January as it did in December of last year, according to a study from the National Alliance for Insurance Education and Research in conjunction with MarketScout.

Richard Kerr, CEO of MarketScout said the rates were reflective of a "good year" that had few natural disasters.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.