Quarterly Commercial Rate Change, 4th Quarter 2012

Just received the rate change data for the U.S. Property & Casualty Industry commercial rates for 4th quarter, 2011. It shows an increase across the board of 2.8%. This clearly demonstrates that the tightening of the market is gaining strength. The years of price cutting, decreased investment income and slowing prior year reserve releases is taking it’s expected toll. 

- Jerry Sullivan

Quarterly Change in Commercial Rates 1-25-12

As the Market Turns, What Is Broker’s Role?

The soft market is turning, perhaps not dramatically but it is turning, says Jerry Sullivan, chairman, The Sullivan Group, in Los Angeles. If carriers decide they must raise prices, will customers pay them? As  the market turns, what role should brokers play? Sullivan gives his views in this interview with Insurance Journal from the recent Western Insurance Agents Association’s Insurance Industry Roundtable, starting with what is happening to rates.