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US P&C Rate Increases Continue in First Quarter 2021

Umbrella, Professional Liability and D&O Lead the Way


Underwriters continue to push rates across the board, with umbrella, professional liability and D&O leading the pack with double digit increases. Larger accounts are priced modestly higher than medium and small accounts. Habitational and transportation industry groups reflect the highest rate increases. Even work comp rates were up at plus 1.7 percent. As anticipated, energy rates increased more aggressively in the first quarter. Richard Kerr, CEO of MarketScout, noted, “Because the property market is so large, the composite rate is tempered by placements across the US. In CAT prone areas, rates were up significantly more than the composite rate of 8.6 percent.” In describing the overall market, Mr. Kerr added, “We expect rate increases to continue for the remainder of 2021.”

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 first quarter 2021 rates by coverage, industry class and account size is set forth below.
By Coverage Class
Commercial Property Up 8.6%
Business Interruption Up 6%
BOP Up 4.7%
Inland Marine Up 4.3%
General Liability Up 6%
Umbrella/Excess Up 14%
Commercial Auto Up 8.7%
Workers’ Compensation Up 1.7%
Professional Liability Up 11.3%
D&O Liability Up 11.6%
EPLI Up 6%
Fiduciary Up 2.7%
Crime Up 2.3%
Surety Up 1.7%
By Account Size
Small Accounts Up 6.3%
Up to $25,000
Medium Accounts Up 6.3%
$25,001 – $250,000
Large Accounts Up 8.3%
$250,001 – $1 million
Jumbo Accounts Up 8.3%
Over $1 million
By Industry Class
Manufacturing Up 6.3%
Contracting Up 6.7%
Service Up 6.3%
Habitational Up 9.3%
Public Entity Up 5.3%
Transportation Up 11.7%
Energy Up 6.3%

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 nine consecutive years from 2012 to 2020. The company has offices in Alabama, Arkansas, Florida, Illinois, Nebraska, Pennsylvania, South Carolina, Tennessee, Texas, and Washington, DC. California license #0D60423.