TIPS™Results for Q3 2012 Released…Rate Increases Persist

December 5th, 2012 (Woodbridge, NJ) NIP Group, Inc. released the results of the Transportation Insurance Pricing Survey (TIPS™) for the third quarter of 2012. The survey was issued to leading transportation insurance brokers, wholesalers and underwriters representing thousands of account placements and is used to benchmark changes in the availability and rates in the transportation insurance market.

Survey results demonstrate that the majority of respondents believe that the Transportation market remains consistent to last quarter, indicating a hard market. Participants also acknowledge that fewer non-specialty carriers are chasing transportation premium and respondents generally believe that generalists are leaving the space. Over the past several quarters we have seen rate increases intensifying and spreading across all major market segments and account sizes.

The survey also measures premium changes across ten different transportation segments including:

■   Trucking Operations                          ■   Intermodal Carriers

■   Messenger/Courier Services              ■   Ambulance/Paratransit

■   School Bus Contractors                    ■   Bulk Transportation

■   Airport Ground Transportation           ■   Charter/Tour Bus Operators

■   Specialized Carriers & Riggers          ■   Limousine Services

In the third quarter of 2012, with the exception of the Umbrella line, rate increases of at least 10% have been reported across all transportation segments.

Similarly, when looking at the premium changes reported by coverage type it is evident that the majority of participants believe that rates remain up vs. last quarter. However, Motor Truck Cargo, Umbrella, and Workers’ Comp coverage lines have not been affected as much.

“While TIPS results indicate that rate increases are slowing, rates continue to increase, adding validity to the belief that the market is hardening.”, said Richard Augustyn, CEO of NIP Group, Inc. “For an industry that has struggled with declining rates and over-capacity, this is a good sign that the market is moving in a favorable direction.”


About NIP Group, Inc.

NIP Group, Inc. is a specialized business insurance and risk management intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.



Alyssa Hewitt

PHONE: 1-800-446-7647 ext. 285


NIP Group, Inc. 900 Route 9 North | Suite 503 | Woodbridge, NJ 07095-1003 | 800.446.7647