Casualty Market Trends: Q4 2013

Casualty Trends: Q4 2013

When is bad news good news? When rates are going up but not as quickly. It’s slow, and it’s modest, but the casualty market is turning in the right direction for buyers in North America. Rates are still coming up in the mid- to low-single digits for general liability, workers’ compensation, auto liability and umbrella/excess coverage, but rates are easing compared to a year ago and to last month.

Our market trends report goes into detail—lots of it—breaking down the data by company size and region. Follow the links below to read more about each segment.

General Liability

Countrywide average primary general liability rate increases are at +3.2%, which is down from last quarter’s +4.0% and last December’s +4.9%.

Workers’ Compensation

Reported rate increases for Workers Comp  are averaging approximately +5.2% on a countrywide basis, which is down about 2.1% compared with the average rate increase of 7.3% from our December 2012 report. December’s average rate increases were down about 1% from the September 2013 report.

Auto Liability

Primary auto rate increases are averaging +3.3% countrywide, which continues a downward trend from +3.9% last quarter and +4.2% for the second quarter.

Umbrella/Excess Liability

Average North American umbrella rate changes are +2.8%  compared with +3.8% last quarter and +4.9% a year ago.

About Pamela Ferrandino

Pam has been with Willis since 2004 and is Executive Vice President, National Practice Leader for Casualty, Placeme…
Categories: Casualty

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