Analysts: Higher premiums are likely this year

01/13/2013 | Insurance Journal

Insurance companies are likely to increase premiums by 3% to 5% in 2013, industry analysts say. The industry should see net premium growth of 4.6%, driven mainly by the economy and market conditions, Conning's Jerry Theodorou says. "Reports of commercial insurance rates rising 4-5% and mid-single-digit personal-lines rate increases in recent months, in combination with mild economic growth," support Conning's prediction, Theodorou says.

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