Composite commercial insurance rates in the US held steady in the second quarter, according to a report by MarketScout.
Businesses in the US were assessed an average composite rate increase of 5% in Q2, the report found.
“While the composite rate held steady in the second quarter, there was some movement in various lines of insurance,” said Richard Kerr (pictured above), CEO of MarketScout and Movatae Risk Group. “Property, business interruption, general liability and umbrella/excess rates increased, while most other coverage classifications softened a bit.”
