P&C

Premium Increases Flat to Down

The Council’s Commercial P/C Market Index for Q1 is here.
By Zach West Posted on May 21, 2024

Moderation was clearer when looking at individual commercial lines. All lines recorded premium increases flat or down from the previous quarter, with the single exception of commercial auto. Workers compensation and D&O premiums decreased by an average of -1.8% and -0.8%, respectively.

Commercial auto premiums increased by an average of 9.8%, compared to 7.3% last quarter. Experts suggest high vehicle repair costs due to inflation and supply chain woes, the increase in nuclear verdicts for auto accidents and a shortage of experienced truck drivers have all contributed to issues with the line.

Download the Q1 2024 report.

Zach West Content Specialist Read More

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