US commercial rates up slightly in July: Ivans

Commercial insurance rate increases in the US accelerated across most major coverage lines in July, according to a report from Ivans Insurance Services.

Commercial auto rates increased 9.8% in July, compared with 9.7% in June, and business owners policy rates rose 8.7%, compared with 8.4%.

Umbrella liability rates were up 8.4%, compared with 8.3%, and general liability was up 4.2%, compared with 4.1%.

Commercial property rates rose the most at 11.8%, but that was down from a 12.7% increase in June.

Workers compensation rates fell 1.3%, compared with a 1.5% decline the previous month.

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