Report cites a jump in commercial P/C rates last month

12/5/2012 | Business Insurance (tiered subscription model)

Rates for commercial property/casualty insurance were up 5% year-over-year in November, with rates for manufacturing and transportation climbing by 6%, according to a MarketScout report. "The manufacturing rate increase was surprising. Normally, manufacturing is a very stable industry class absent quick pricing changes. Going from plus 4% [in October] to plus 6% was unusual," MarketScout CEO Richard Kerr said in a statement.

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