US commercial rate increases accelerate slightly

The rate of US commercial insurance premium increases ticked up in most lines during November, according to Ivans.

Commercial property insurance buyers saw the biggest annual increases, with premium renewal rates rising 7.9%, up from 7.6% in October, reported the insurance exchange.

Commercial auto rates increased 5.6%, up from 5.1% in the prior month.

General liability rates rose 5.5%, up from 5.2%, and umbrella liability rates increased 5%, compared with 4.4%.

Business owner policy rates increased 6.7%, down from 7.2% in October.

Workers compensation rates fell 1.8%, compared with a 1% decline in the prior month.

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