Independent agents continue to dominate commercial lines while rivaling direct response writers and captive carriers in personal lines business, according to the 21st Market Share Report from the Big “I.”
In the second quarter of 2017, the composite rates for commercial and personal lines were up +1% and +2.5%, respectively, according to the quarterly MarketScout pricing survey.
For the first time in 20 months, average commercial insurance rates measured a slight increase, according to the now quarterly MarketScout pricing survey.
Commercial insurance wrapped up 2016 with average rate reductions of -1%, while personal lines pricing marked average increases of +2% in December.
In relationships with brokers, quality of advice is the most important factor driving large commercial customer satisfaction, according to a new study.
November marked a slight uptick in average commercial insurance pricing, while personal lines rates held steady, according to the latest MarketScout pricing survey.
Between September and October, average commercial and personal lines insurance rates moderated a percentage point each, to -2% and +1%, respectively.
Between August and September, commercial insurance rates held steady at -1% for the fourth month in a row, while the personal lines composite inched up from +1% to +2%.
Between July and August, commercial and personal lines insurance rates held steady for the third month in a row, according to the latest MarketScout pricing survey.
In small commercial lines, millennials have a higher rate of face-to-face agent interaction and are more satisfied with insurance interaction than any other generation.
