Reinsurance News
MarketScout
US commercial and personal lines both see rates up 5% in Q4: MarketScout
9th January 2023
New data from MarketScout, a managing general agent, Lloyd's coverholder and wholesale broker, shows that composite rate increases for both US commercial and personal lines insurance were up by more than 5% through the fourth quarter of the year. The composite rate for US commercial insurance rates was up 5.1% in ... Read the full article
US commercial P&C rates decelerate to 5%: MarketScout
14th December 2022
The latest Insurance Market Barometer from MarketScout and accompanying commentary from analysts at Keefe, Bruyette & Woods reveals that U.S. commercial property and casualty insurance (P&C) rates rose by 5% y/y, below October's +5.9%, which probably reflects both deceleration and monthly volatility. Although rate increases appear to have peaked in December ... Read the full article
Novatae Risk acquires MarketScout, names Richard Kerr CEO
10th November 2022
Novatae Risk Group, a full-service wholesale insurance broker, managing general agency (MGA) and programme manager, has acquired fellow, Dallas-based brokerage firm MarketScout Corporation, and announced the latter's Founder and Chief Executive Officer (CEO), Richard Kerr, as its new CEO. Effective immediately, Kerr takes over from acting CEO and Chief Operating Officer (COO), ... Read the full article
Hurricane Ian to “dramatically” impact Florida rates: MarketScout
7th October 2022
Analysts at MarketScout, a Managing General Agent, Lloyd's Coverholder and wholesale broker, have suggested that losses from Hurricane Ian will “dramatically” impact insurance pricing across both commercial and personal lines. MarketScout data shows that the commercial market composite rate for the third quarter 2022 increased 5.28%, with property rates up 7.67%. It’s ... Read the full article
US P/C rates up 5.9% in Q2: MarketScout
8th August 2022
MarketScout data shows that US property and casualty (P/C) insurance rates are stabilizing at a composite increase of 5.91% in Q2 of 2022, matching the rate increases of Q1. MarketScout found cyber rates continue to increase the most at 21.3% up from 19.7% in Q1 of 2022. Umbrella rates moderated slightly by ... Read the full article
US commercial rates continue stable rise over Q2, cyber rates increase the most: MarketScout
8th July 2022
Data from MarketScout shows that US commercial P&C insurance rates are stabilising at a combined increase of 5.91% in Q2 2022, virtually matching the rate increases of the previous quarter. However, cyber rates are surging upward, they have increased the most at over 21.3% from more than 19.7% in Q1 2022. In ... Read the full article
US personal lines rate increases plus 5.16% in Q2 2022
6th July 2022
US personal lines rates stabilised in the second quarter of 2022 with rate increases of plus 5.16%, according to analysts at MarketScout. This percentage almost mirrors the 5.2% increase in the first quarter of 2022, MarketScout noted. Insureds in the US are experiencing rate increases partly as a result of inflation on ... Read the full article
Rate growth maintained at 6% through Q1: MarketScout
7th April 2022
The composite rate increase across insurance and reinsurance lines across the first quarter of 2022 was 6%, according to data from US electronic insurance exchange and specialty MGA MarketScout shows. The figure represented a slight increase over growth of 5.8% for the fourth quarter, as re/insurers continued to assess rate increases ... Read the full article
P&C rates up through Q4 but increases moderating: MarketScout
6th January 2022
MarketScout data shows that commercial property and casualty (P&C) insurance rates were up through the fourth quarter of 2021, with the composite rate recorded at 5.8%, versus 6.8% in Q3. By line of coverage, MarketScout found the biggest rate increases in the fourth quarter were for umbrella, property and directors and ... Read the full article
US commercial rates up 6.8% in Q3, says MarketSout
8th October 2021
According to MarketScout data the composite rate for commercial insurance pricing in the third quarter of 2021 was up 6.8%, compared to the 5.9% in the second quarter of 2021. Richard Kerr, CEO of MarketScout noted how Umbrella and D&O coverages continue to lead the price increases at 11.7% and 11.3%. By ... Read the full article
Commercial property rates up 9.6% in Q2: MarketScout
2nd July 2021
Data from MarketScout shows that commercial property rates increased by 9.6% over the second quarter of 2021, as pricing continued to increase despite moderation in some lines of business. Other lines with significant rate increases over Q2 included business interruption up 7%, umbrella/excess up 11.6%, commercial auto up 9%, and D&O ... Read the full article
P&C underwriters continue to push rates across the board: MarketScout
12th April 2021
Data from MarketScout shows that US property and casualty (P&C) rates continued to increase over the first quarter of 2021, as underwriters successfully pushed for rates across the board. Umbrella, professional liability and D&O led the way with double digit rate increases, and larger accounts were generally priced more modestly than ... Read the full article
Commercial property rates up 9% in Q4: MarketScout
7th January 2021
New data from MarketScout shows that commercial property insurance rates increased by 9% over the fourth quarter of 2020. Despite significant challenges over the year, the re/insurance industry continued to function efficiently, MarketScout noted, with the Q4 composite rate up 7.1%, and up 6.25% in Q3. The biggest rate increases by line ... Read the full article
Commercial property rates up 7% in Q3: MarketScout
8th October 2020
Commercial property rates increased by 7% during the third quarter of 2020, according to data from MarketScout, the US electronic insurance exchange and specialty MGA. The firm found that re/insurance rates increased by 6.25% on average in Q3, with rate increases on every line of coverage and industry class. The largest rate ... Read the full article
US commercial prices rise during Q2: MarketScout
21st July 2020
The US composite commercial property and casualty rates increased slightly from up 4.5% in the first quarter 2020 to up 4.8% in the second quarter, according to analysis by MarketScout. MarketScout Chief Executive Officer Richard Kerr notes how, while Almost all US insurers are assessing rate increases, surplus lines insurers are ... Read the full article
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