MarketScout: Work Comp Rates Down 1.5% in Fourth Quarter

Workers’ comp insurance rates fell 1.5% in the fourth quarter, according to a new MarketScout barometer report. But rates were up for other commercial lines in the fourth quarter, including a 7% increase for commercial auto. Business interruption rates increased 3% in the quarter and commercial property rates rose 2.5%. “Ample capacity remains in the commercial insurance market,” Richard Kerr, MarketScout’s chief executive officer, said in a statement. “Rates for all coverage classifications other than workers’ compensation are increasing at a controlled, ...