Comp Rates Down 2.9% in Fourth Quarter, Survey Finds

Commercial property and casualty rates declined again in the fourth quarter, including a 2.9% decrease in workers’ compensation rates, according to a market survey by the Council of Insurance Agents & Brokers. It’s the eighth straight quarter of rate decreases for property and casualty overall, CIAB said. Large accounts again saw the largest rate decrease at 4.9%, followed by medium accounts at 3.8% and small accounts at 1.3%. Commercial property rates were down 4.4% in the fourth quarter, and general liability rates dropped 2.6%, while commercial auto rates were up 4.4%. Ma...