The composite rate for personal lines insurance in the US was flat in October 2015.
“Personal line insurers survived another wind season relatively unscathed,” noted Richard Kerr, CEO of MarketScout. “Insurance professionals feel as though it has been a long, long time since any significant windstorm has hit Florida or the Gulf Coast. However, in terms of mother nature’s time clock, this is only a short blip. It is very possible we will not see a significant wind event for another decade. If so, prices will continue to be very competitive.”
Homeowners premiums for homes of all values were flat. Personal articles pricing was also flat. Personal automobile coverage was up 1 percent.
The National Alliance for Insurance Education and Research conducted pricing surveys used in MarketScout's analysis of market conditions. These surveys help to further corroborate MarketScout's actual findings, mathematically driven by new and renewal placements across the United States.
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