Comp Rates Down 2% in Q3, MarketScout Reports

Workers’ comp insurance rates for new and renewal policies fell 2% in the third quarter, the latest in a series of rate decreases, according to a new report from MarketScout. Of 14 commercial lines included in the report, workers’ comp was the only one that showed a rate decrease. The greatest increase was for commercial auto, at 5%. Rates for commercial property, general liability and professional liability were up 1%. Rates for business interruption, fiduciary, crime and surety were flat. MarketScout CEO Richard Kerr said recent hurricanes did not affect commercial property...