Rate Increases Stay ?Steady': MarketScout
NU Online News Service, July 1, 3:28 p.m. EDT?An online quote service for insurance agents reports that average property-casualty policy rate increases held steady at 7 percent for a third straight month.[@@]
The June data was reported by MarketScout.com. of Dallas, which is affiliated with 50 carriers and has 50,000 agents registered to use its services.
Richard K Kerr, the chief executive of MarketScout.com, in an announcement of the rates wrote that overall premium increases and decreases will be impacted in coming months by interest rate concerns and the pending election.
He noted that the finding of a steady 7 percent rate arrives just ahead of July insurance treaty renewals.
Mr. Kerr said, "results of these treaty negotiations will provide a good reference for the general market direction over the next several months." He was not available to discuss the data in depth.
Previously MarketScout reported that rate increases were 11 percent in January, and nine percent for February and March.
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