A survey by The Council of Insurance Agents & Brokers finds commercial P&C pricing is up 4.3 percent during the third quarter.
Pricing for business interruption, umbrella, commercial property and workers' compensation showed signs of flattening in the third quarter. Each declined slightly more than some other lines during the third quarter.
"The market looked a lot like the second quarter," said Ken A. Crerar, CIAB president and CEO. "Pricing in general increased modestly last quarter. But without making any predictions there were indications that the market hardening tapered off."
According to group's quarterly Commercial P&C Market Index Survey, pricing for small. medium and large accounts also averaged 4.3 percent in the second quarter.
Though pricing flattened in some lines, CIAB says brokers' experience varied based on geography and circumstances. Workers' compensation remained a difficult line to place. Pricing and retentions went up for employment practices liability.
Terms and conditions continue to be tight but some carriers were willing to negotiate increases on good accounts. Those with losses continued to be scrutinized.
According to brokers surveyed, some carriers were shying away from writing business with large roofs. Wind and hail deductibles were added in some regions, especially the the Southeast and Midwest. CIAB reports a broker in the Southwest said flood insurance was up as much as 20 percent.
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