CIAB: Comp Rates Down 1.9% in Q1

Workers’ comp premium rates fell by 1.9% in the first quarter, while rates for commercial property and casualty overall dropped 2.5% in the three-month period, according to a survey by the Council of Insurance Agents and Brokers. Commercial property and casualty rates, which fell 3.3% in the fourth quarter of 2016, appeared to be flattening out, CIAB said. The same might be true for workers’ comp rates, which last year fell 3.0%, 4.3%, 2.6% and 2.9% in the first through fourth quarters, respectively, according to CIAB surveys. An increase in new market entrants, expansions and a...