Overall market conditions are stable says MarketScout
Unlike Personal Lines which held steady last month, the composite rate of U.S. commercial lines rates increased again in November by plus one percent. Dallas-based insurance exchange and general managing agency MarketScout, which measures the personal and commercial lines rates each month, identifies the only changes from last month in Commercial Property which was up plus one percent to plus two percent while Surety moved down to flat from plus one percent.
“We still have not measured any line of business that registers a rate decline as compared to the prior year,” noted Marketscout CEO Richard Kerr. “Surety rates and jumbo accounts are flat. Every other measurement is still showing at least a very slight rate increase.”
In looking at account sizes, no changes occurred in November 2014. As for industry, Service and Transportation moved up one percent over October numbers to arrive at plus two percent and plus three percent respectively. Moving down were Manufacturing risks from plus two to plus one percent, along with Contracting which was down from plus three to plus two percent.
The November numbers by Coverage Class
| By Coverage Class | November 2014 Rates | October 2014 Rates | September 2014 Rates |
| Commercial Property | Up 2% | Up 1% | Up 2% |
| Business Interruption | Up 1% | Up 1% | Up 1% |
| BOP | Up 2% | Up 2% | Up 2% |
| Inland Marine | Up 1% | Up 1% | Up 1% |
| General Liability | Up 2% | Up 2% | Up 2% |
| Umbrella/Excess | Up 2% | Up 2% | Up 2% |
| Commercial Auto | Up 3% | Up 3% | Up 2% |
| Workers’ Compensation | Up 1% | Up 1% | Up 2% |
| Professional Liability | Up 2% | Up 2% | Up 1% |
| D&O Liability | Up 2% | Up 2% | Up 2% |
| EPLI | Up 2% | Up 2% | Up 2% |
| Fiduciary | Up 1% | Up 1% | Up 1% |
| Crime | Up 1% | Up 1% | Up 1% |
| Surety | Up 0% | Up 1% | Up 1% |
The November numbers by Account Size
| By Account Size | November 2014 | October 2014 | September 2014 |
| Small Accounts (Up to $25,000) | Up 2% | Up 2% | Up 3% |
| Medium Accounts ($25,001 – $250,000) | Up 2% | Up 2% | Up 2% |
| Large Accounts ($250,001 – $1 million) | Up 2% | Up 1% | Up 1% |
| Jumbo Accounts (Over $1 million) | Up 0% | Up 0% | Up 0% |
The October Numbers by Industry Class
| By Industry Class | November 2014 | October 2014 | September 2014 |
| Manufacturing | Up 1% | Up 2% | Up 1% |
| Contracting | Up 2% | Up 3% | Up 4% |
| Service | Up 2% | Up 1% | Up 2% |
| Habitational | Up 1% | Up 1% | Up 1% |
| Public Entity | Up 1% | Up 1% | Up 1% |
| Transportation | Up 3% | Up 2% | Up 3% |
| Energy | Up 2% | Up 2% | Up 1% |
