The Council of Insurance Agents & Brokers (CIAB) released its third-quarter Commercial P&C Market Index Survey last week. The report showed a continued, though moderate, decline in commercial Property and Casualty rates across all account sizes and most lines.
This was consistent with the general trend of gradually declining rates observed since the first quarter of 2013, the Washington, D.C.-based council said.
Rates decreased across all lines by an average of 3.1%, with the largest decreases in large accounts at 4.1%, followed by medium-size accounts at 3.8%, and small accounts at 1.4%. This trend was consistent across most lines of business as well, with a few exceptions, including Commercial, Auto and Flood.
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