All major US commercial lines hardened in April: Ivans

All major US commercial lines saw month-over-month premium renewal rate increases in April, shows latest data from Ivans Insurance Service.

Commercial property renewal rates rose 10.09%, up from a 9.14% increase in March.

Business owners policy renewal rates rose 7.6%, up from 7.31% the month before.

Commercial auto renewal rates increased 6.16% in April from 6.07% in the prior month.

General liability renewal rates rose 5.5%, up from 4.98%, while umbrella renewal rates increased 5.09%, up from 4.67%.

Workers compensation renewal rates fell 1.22%, compared to a 1.33% decline in March.

On a year-over-year basis, renewal rates were more variable, with most lines, except umbrella and workers comp, seeing increases in premium renewal rates, Ivans said.

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