California Business and commercial insurance trends as I see the California Insurance Market evolve from the perspective of a independent California commercial insurance broker. Industries I have clients in include non-profits, manufacturing, commercial property owners, technology and software to name a few. I'll be discussing the trends in California Workers Compensation, Property Insurance, E&O, Errors and omissions, Directors and officers, D&O, EPLI, and other coverages
Sunday, September 7, 2008
California Business Owner's Insurance rate still Dropping
California business owner's have few positive reports these days. But in recent days as reported my the Inusrance Market Scout, property and casualty insurance rates dropped by an average of 10% in August compared with rates from '07.
California commercial property rates fell 12%, the largest percentage decrease among any of the major lines tracked according to the tracking for Market Scout.
For California business owner's luck enough to have a package policy written on a business owner's policy(BOP) that they experienced a 14% drop, MarketScout Chairman and Chief Executive Officer said Richard Kerr in a statement accompanying the report.
"For now, BOP business appears to be experiencing the most aggressive rate cutting of all lines of coverage," he said, good news for all business owners.
