MarketScout has calculated the U.S. composite commercial rate index for February 2012 at an increase of two percent.
Richard Kerr, CEO of MarketScout noted, "In September 2011 rates were flat. Since then, we have continued to see evidence of a slowly turning market with the composite rate at 0 percent for October; 1 percent increase for November 2011 through January 2012 and now a 2 percent increase in February 2012. Commercial property and workers’ compensation are leading the increases at plus 3 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.