Report: Increases held steady in June for personal, commercial rates

07/7/2013 | PropertyCasualty360

Rates for property/casualty commercial lines of insurance rose 5% last month, maintaining their pace from May, while personal-lines increases held steady at 4%, MarketScout said. Two major insurers are looking to enter the high-net-worth market, and "the increased competition could have an impact on rates," said MarketScout CEO Richard Kerr. Such a move, however, would involve an "enormous amount of capital and exceptional talent," and "not many companies can fulfill those requirements," Kerr said.

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