Ian Update: P&C Rates
Ian Update: P&C Rates. Property and casualty rates will rise for coastal states as a result of hurricane Ian, according to market research firm MarketScout. The storm is expected to cause widespread damage to infrastructure, homes, and businesses. “Companies are going to be reevaluating their rates in the wake of this hurricane,” said MarketScout CEO Richard Kerr. “There will be a significant impact on rates.” MarketScout’s analysis shows that rates could rise by as much as 25 percent in some areas. The firm advises consumers to shop around for the best deals on insurance. “Some companies will be more affected by the storm than others,” said Kerr. “It’s important to compare rates and find the company that’s best suited to your needs.”
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