Personal Lines Rates Stabilize
July 6, 2022
Third Quarter Rates Increase 5.28%
October 5, 2022


MarketScout logo

Steady Rate Increases for Q2 2022

However, cyber rates surging upward 

US property and casualty rates are stabilizing at a composite increase of 5.91 percent in the second quarter of 2022, virtually matching the rate increases of the first quarter 2022. Cyber rates continue to increase the most at plus 21.3 percent up from plus 19.7 percent in the first quarter of 2022. Umbrella rates moderated slightly by increasing 8.7 percent in the second quarter as compared to an increase of 9.7% in the first quarter of 2022. Medium sized accounts ($25,000 to $250,000 in premium) experienced the largest rate increase in the second quarter of 2022 at plus 7 percent. By industry classification, transportation is still being assessed with the highest rate increases at plus 8.7 percent. Richard Kerr, CEO of MarketScout outlined the current rating environment by noting, “Mother nature and litigation heavily impact rate increases, but as we all know, we can’t realistically control either. Hurricane season is upon us and soon to be followed by wildfire season. If we have big events, the increase in property rates will come quickly.” Kerr further commented on economic cycles which may impact insurance rates, “Inflation can create a need for rate increases, so we may see that impact over the next four quarters. As for rate decreases, it’s possible higher interest rates could provide insurers with additional investment income which could moderate rate decreases, especially on long tail business.” 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. A summary of the second quarter 2022 rates by coverage, cyber liability, industry class and account size is set forth below.
By Coverage Class
Commercial Property Up 8.3%
Business Interruption Up 7%
BOP Up 6%
Inland Marine Up 3.7%
General Liability Up 5.3%
Umbrella/Excess Up 8.7%
Commercial Auto Up 9%
Workers’ Compensation Up 1%
Professional Liability Up 5.6%
D&O Liability Up 8.3%
EPLI Up 5%
Fiduciary Up 2%
Crime Up 1.7%
Surety Up 1.7%
Cyber Liability
Cyber Up 21.3%
By Account Size
Small Accounts Up 5.7%
Up to $25,000
Medium Accounts Up 7%
$25,001 – $250,000
Large Accounts Up 6%
$250,001 – $1 million
Jumbo Accounts Up 6.3%
Over $1 million
By Industry Class
Manufacturing Up 5.3%
Contracting Up 6.3%
Service Up 6%
Habitational Up 8.3%
Public Entity Up 5%
Transportation Up 8.7%
Energy Up 4.3%

For detailed rating analysis or market projections by industry class, coverage or account size, contact Vilma Scott at

About MarketScout

Founded in 2000, MarketScout is an insurance distribution and underwriting company headquartered in Dallas, Texas. The company is a Lloyd’s Coverholder and MGA for US insurers with specialty expertise in workers’ compensation, private client solutions, energy, healthcare, fine art, equine, jewelry, professional liability, and many specialty programs. The company owns and operates the MarketScout Exchange, as well as over 40 other online and traditional underwriting and distribution venues. MarketScout is the founder of the Council for Insuring Private Clients (CIPC) and administers the Certified Personal Risk Manager (CPRM) designation in partnership with The National Alliance for Insurance Education & Research. MarketScout is the only insurance organization to receive The National Alliance’s exclusive partnership and endorsement. The company founded the Entrepreneurial Insurance Alliance (EIA) in 2007 to support insurance entrepreneurs and in 2017 founded the MarketScout InsurTech (MIT) venture fund. In January 2018, it launched an Incubator to accelerate start-up MGAs and assume operational functions for existing MGAs and insurers. MarketScout’s company culture and sense of community encourages growth, learning and collaboration. The company has been named as one of the Best Places to Work in Insurance by Business Insurance for ten consecutive years from 2012 to 2021. The company has offices in Alabama, Arkansas, Florida, Iowa, Illinois, Nebraska, Pennsylvania, South Carolina, Texas, and Washington, DC. California license #0D60423.