Work Comp Rates Drop 1% in Q1, MarketScout Reports

Workers’ comp insurance rates were down 1% in the first quarter, according to the latest edition of the MarketScout Barometer report. Other commercial lines in the report saw rate increases in the first quarter. Commercial auto led the way with a 7% rate increase. Commercial property rates rose 2.5% in the quarter, while 2% increases were seen for business interruption, business owner policies, general liability and umbrella/excess. “Auto continues to be assessed the most aggressive rate increase by line of coverage,” MarketScout Chief Executive Officer Richard Kerr sa...