Report: Further P/C insurance rate increases are likely this year

04/2/2013 | Business Insurance (tiered subscription model)

Property/casualty insurance rates are expected to increase further this year, according to a report from Barclays Capital. The Council of Insurance Agents & Brokers has said that pricing rose 5% in the fourth quarter compared with the same period the year before, meaning that "the pace of rate increases accelerated," Barclays said. The effects of Hurricane Sandy, however, could have driven prices up for the short term and "the pace of price increases could ease in future quarters if insurers' underwriting results recover," Barclays says.

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