Commercial Rates Keep going Up and Up and Up

MarketScout’s Market Barometer found commercial P&C rates jumped an average of 5.6% in the 4th quarter of 2023. Richard Kerr is MarketScout’s CEO. He said that push drove the final average rate increase for all of 2023 to 4.56%. “Calendar year 2023 settled down a bit as compared to the last few years,” Kerr said. …

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