Survey: Comp rates increase average 6 percent in August

Rates for workers' comp and general liability rose an average 6 percent in August, according to the latest barometer from MarketScout.

The company, which bills itself as the "nation's largest property and casualty insurance exchange," said overall the composite rate for insuring U.S.-based risks was calculated at an increase of 5 percent last month.

The composite rate for property coverages across the U.S. was up 7 percent, the report said. Included were larger increases in wind exposed areas on the gulf coast and eastern seaboard, which is normal during hurricane season.

Legal experts review latest Medicare legislation (06/18/12)
Physician-owned surgery centers come under researchers' scrutiny (06/18/12)
Coalition disputes contentions in think tank's report on N.Y. assessments (04/19/12)
California: Frequency for private self-insureds drops a hair (09/10/12)
Insurance group points to 49 percent drop in premiums in Texas (11/01/12)

Small and medium-sized accounts -- premiums up to $250,000 -- increased 5 percent; large accounts increased by 4 percent; and jumbo accounts -- over $1 million -- were up 3 percent.

The survey was conducted by the National Alliance for Insurance Education and Research.

Read more at the WorkersComp Forum homepage.

September 27, 2012

Newsletter Sign-up