Premium Pricing Increased for the First Time in Three Years According to Q4 CIAB Market Index

WASHINGTON, D.C. – March 1, 2018 – Average rates increased for the first time in 13 quarters, according to The Council of Insurance Agents & Brokers’ Q4 2017 Commercial Property/Casualty Market Index Survey. The Council surveyed broker members from across the country for the October 1-December 31 span.
Three months after massive catastrophes and cyber events in the third quarter, commercial property/casualty rates saw a minimal increase of 0.3 percent across all-sized accounts, compared to a 1.3 percent decrease in Q3 2017, according to results.
Across five major lines of business, including commercial auto, workers’ compensation, commercial property, general liability and umbrella, average premiums increased for the second consecutive quarter, by 1.7 percent, compared to 1.0 percent in Q3 2017.