Commercial lines pricing dipped somewhat in April, according to the latest report from MarketScout.
Richard Kerr, chairman of the Dallas-based insurance exchange, said pricing for energy and property risks moderated slightly.
“The property market outside of coastal exposures in the Gulf and up the Eastern seaboard is relatively stable,” Mr. Kerr said. “With the pending wind season upon us, however, property accounts in wind areas continue to be unstable.”
By coverage class, umbrella/excess showed the sharpest decline of 7 percent, followed by general and professional liability risk, both at 6 percent.
Workers' compensation covers declined by 5 percent, while commercial property, employment practices liability insurance, surety and fiduciary remained flat.
Large accounts posting between $250,000 and $1 million in premium showed the largest decline at 9 percent, followed by accounts of more than $1 million in premium, which showed an 8 percent dip in pricing.
By industry class, service showed the largest decline at 7 percent while the energy sector had to pay 8 percent more coverage last month.
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