In a new report, the Council of Insurance Agents and Brokers (CIAB) says Commercial Property-Casualty rates decreased by an average of 3.9 percent in the second quarter of 2016. Carriers appear to be pricing new business aggressively, while trying to hold rates steady on renewals.
According to CIAB President & CEO Ken Crerar, The Council is keeping a close eye on several threats that could alter market conditions, including the presidential election, terror and cyber attacks, floods in West Virginia and Maryland, workers comp rates in Florida, the UK’s Brexit decision and the Zika virus.
But for now, “It’s a buyers’ market.”
To view the entire report, visit the CIAB website at https://www.ciab.com/news.aspx?id=6038